US warns Turkey of sanctions if trade with Russia continues – Middle East Monitor
The United States has expressed concerns with Turkey over its continued business relationship with Turkey and trade with Russia, and has threatened similar sanctions against Turkish businesses if cooperation continues.
The Turkish Industry and Business Association (TUSIAD) confirmed in a statement yesterday that the US Treasury Department and its Deputy Secretary Wally Adeyemo have sent letters to the Turkish Association and the US Chamber of Commerce in Turkiye. This country is in danger of being sanctioned by Washington.
“A person or entity that provides material assistance to a person designated by the United States is itself at risk of being subject to U.S. sanctions,” the letter states. wall street journal“Turkish banks cannot be expected to establish correspondence with sanctioned Russian banks, maintain correspondence with major global banks, and maintain access to US dollars and other major currencies.” .”
That warning came after Adiemo’s infrequent visits to Ankara and Istanbul that same month, where he also criticized Turkish firms’ ties to Russian firms and oligarchs, particularly those of Russian firms operating in Turkish organizations. expressed the United States’ concerns about using and circumventing European sanctions.
Since Russia launched its ongoing invasion of Ukraine in February, Turkiye has condemned the military operation and has politically supported, provided assistance to, and sold arms to Ukraine, despite the Kremlin and have maintained and improved their relationship with
read: The US is pushing Turkey into Russia’s arms
Ankara’s ties with Moscow are growing especially in the economic sector with Turkey’s economy and banks. Facilitate Russia’s MIR payment system after the Russian economy was cut off from the global Western SWIFT payment system.
Its facilitation will allow Russian businesses and citizens to use Turkiye, along with other countries such as Belarus, Central Asia and Latin America, as a conduit to financially operate in international markets and evade Western sanctions. Now
Earlier this month, both countries agreed Paying part of the gas supply in rubles will further deepen economic ties between the two countries and strengthen the position of the Russian currency.
Turkish President Recep Tayyip Erdogan has argued that abandoning ties and severing dialogue would be counterproductive to negotiation efforts. aims to fulfill
Ankara appears to be aware that such measures could provoke the ire of the United States and the West, and is willing to use Turkish-Russian cooperation to impose further sanctions against Turkiye. may justify the
Nevertheless, it claims it cannot directly oppose Russia because it is heavily dependent on Russian energy imports and imposing similar measures on Russia would harm Turkey’s economy.
https://www.middleeastmonitor.com/20220824-us-warns-turkiye-of-sanctions-if-business-with-russia-continues/ US warns Turkey of sanctions if trade with Russia continues – Middle East Monitor