The Turkish Top Business Association has confirmed receiving a letter from the US treasury regarding the possibility of sanctions if it continues to do business with Russia.
Washington was increasingly worried that the Russian and business governments used Turkey to avoid western financial and trade restrictions which were implemented in response to the Kremlin invasion of Ukraine six months ago.
Turkish President Recep Tayyip Erdogan and Russian colleague Vladimir Putin agreed to increase economic cooperation at the peak at the Sochi Black Sea Resort earlier this month.
Official data shows the value of Turkey’s exports to Russia between May and July grew almost 50 percent from last year’s figures.
Turkish Russian oil imports are bulging and both parties have agreed to switch to ruble payments for natural gas exported by the Gazprom giant who is bound by Kremlin.
Deputy Secretary of the US Treasury Wallymo made a rare visit to Ankara and Istanbul in June to express Washington’s concern that Russian oligarchy and large businesses used Turkish entities to avoid Western sanctions.
NATO Turkish members – about good things with Moscow and Kyiv – have tried to remain neutral in conflict and refuse to join the international sanctions regime.
Adeyemo followed him with a letter to the Tusiad Turkey Business Association and the American Chamber of Commerce in Turkey warned that companies and banks were in danger to be approved by themselves.
Tusiad said in a statement on Tuesday that it had been forwarded to the letter to the Turkish Ministry of Foreign Ministry and Finance.The contents of the letter were first reported by the Wall Street Journal this week.
Every individual or entity that provides material support to the people appointed by the US itself is at risk for US sanctions,” Adeyemo wrote.
Turkish banks cannot expect to establish relationships in accordance with approved Russian banks and maintain relationships in accordance with the main global banks and access to US dollars and other major currencies.”
The economic cooperation agreement sealed by Erdogan and Putin included an agreement for more Turkish banks to start processing MIR Russia’s payment systems.
A broader collaboration with Russia can help support the sick Turkey economy in the journey for the following year’s general elections.
Erdogan previously argued that Ankara could not join Western sanctions on Moscow because of the great dependence of Turkey in the import of Russian oil and natural gas.
Our economy in such a way as to impose sanctions on Russia will be the most dangerous to Turkey,” said Erdogan’s foreign policy advisor, Ibrahim Kalin in June.We have taken a clear approach. At present, Westerners have received this. “