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Turkey rejects concerns over The threat of US sanctions over Relations with Russia

by John Pierce
July 3, 2023
in Business
3 min read
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Turkey Finance minister Friday said there was no reason to be concerned by the United States warning Turkish companies risk sanctions if they do so business with punish the Russians.

The Turkish Industry and Business Association (TÜSIAD) confirmed this week that it had received a letter from US Deputy Treasury Secretary Wali Ademo warning that Turkish companies risk consequences if they do so. business with Russians or Russian institutions subject to US sanctions.

Treasury and Finance Minister Noureddine Nabati’s comments on Twitter represent Ankara’s comments first official Reply to the message sent on Monday.

Ago start of the war in Ukraine six Months ago, Turkey tried to balance its close relations with Both Russia and Ukraine, position themselves as a mediator between the two.

Turkish government Criticize Russia’s actions in Ukraine sold drones to Ukraine, which played an important role role in Deter Russia’s advance during the early stage of dispute. but she didn’t joined The international Penalties against Russia – stand it says Help mediation efforts reap results.

Some Turkish companies have either bought or sought to buy Russian assets After the western partners withdrew back, while others keep a large volume assets in Country.

However, Turkey has reiterated that it will not do so allow international Penalties to be breached.

in series of The tweets, Nabati said, were “meaningless.” for Turkish companies worry about the message from Washington.

“Turkey one of The most important political and economic power centers of The world. our business world should Feel power of The state is next to it at all times, Al-Nabati said in tweet.

“We are pleased to see that the United States, our ally and trade Partner, invites its companies to invest in our economyDon is.

Earlier this month, Turkish President Recep Tayyip Erdogan met with Russian President Vladimir Putin in Sochi, Russia, where the two leaders pledged to deepen bilateral ties.

Putin pointed out at the time that the Russian-Turkish trade double in The first Five months of The year compared to the same period last yearan increase that reflects the increasing focus of Moscow on links with Ankara amid painful Western sanctions.

Turkey depends on Russia for trade and tourism. Russian gas covers 45% of Turkish energy needs, the Russian atomic agency building Turkish first nuclear power Factory.

Nabati said on Friday that Turkey is confident in its ability to balance its relations with Russia and international Relations.

We are determined to develop our commercial and economic relations with our neighbors in various sectors, in particular in Tourism, within a framework Tweet on Twitter.

All the actors in Turkish economy linked for free market principles and are working to get bigger share of global trade”

Turkey said imposing sanctions on Russia would have hurt it economy He argued that he is focused on mediation efforts between the two sides. Erdogan said his country should do this remain “neutral” in conflict because its industries are highly dependent on Russian energy imports.

one benefit for It was a Turkiye jump Beyond pre-pandemic levels in foreign visitors last month, thanks to Russian visitors.

The head of metal exporters group This month said that the Russian demand increased for Turkish products as they can no longer get them from European companies and Turkish companies have received inquiries from European companies about supplying Russia via Turkey.

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