Turkish exports to Russia from May to July increased by almost 50% compared to last year.
The US Treasury Department warned Turkey’s businesses and institutions, which do trade with Russia, for the risk of being imposed upon them US sanctionsannounced yesterday, Tuesday, the main Turkish employers’ organization, Tüsiad.
“A letter signed by U.S. Deputy Treasury Secretary Adewale Adeyemo regarding the risk of sanctions against businesses in Turkey linked to the individuals and institutions targeted by the sanctions against Russia was forwarded to Tüsiad,” says the employer organization in a statement.
The letter, which is dated Monday and whose content was published by the American newspaper Wall Street Journal, warns Turkish companies of an “increased risk” for them, in the face of “Russia’s attempts to use” Turkey “for to escape the sanctions”.
“Turkish businesses cannot expect to do business with the sanctioned individuals or entities in Russia while maintaining relations with the United States. (…) Turkish banks cannot hope to have relations with Russian banks, which have been sanctioned, and to maintain relations with global banks, as well as to have access to US dollars,” warned, according to the WSJ, the finance ministry in its letter addressed to the two organizations of Turkish employers.
The Russian president Vladimir Putin and its Turkish counterpart Recep Tayyip Erdogan they had announced in early August, after their meeting in Sochi, Russia, an agreement to strengthen energy and economic cooperation.
Ankara had also announced a partial payment in rubles for Russian gas and an extension of the scope of the Russian Mir payment system to Turkey.
Washington’s concerns
According to the official data, Turkish exports to Russia from May to July recorded almost 50% increase compared to last year.
THE US Deputy Treasury Secretary Wally Adgiemo made a rare visit to Ankara in June to express Washington’s concerns about Russian oligarchs and Russian businesses using their ties to Turkey to evade sanctions.
The Turkish authorities they have not yet officially reacted in the letter from the US Treasury Department.
According to analysts, Agence France-Presse notes, the strengthening of cooperation with Russia could, in view of the 2023 elections, help the Turkish economy which is facing problems.
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