Turkish companies and institutions doing business with Russian individuals and companies are vulnerable to US sanctions, the US Treasury Department warned in a letter cited on Tuesday.
“A letter signed by U.S. Assistant Secretary of the Treasury Adewale Adeyemo has been sent to Tusiad regarding the risk of sanctions against companies in Turkey in relation to individuals and companies targeted by sanctions against Russia,” the organization pointed out in a press release. .
In a letter sent Monday to two Turkish employers’ organizations, published by the Wall Street Journal, the Wall Street Journal warns Turkish firms and companies of “increased risk” in the face of Russia’s efforts to circumvent sanctions on Ankara. The Wall Street Journal writes.
“Turkish companies cannot be expected to do business with sanctioned Russian individuals or companies and maintain relationships with the United States. (…) Turkish banks cannot maintain relationships with sanctioned Russian banks and maintain their relationships with global banks, as well as access to US dollars,” the WSJ quoted Treasury. Department warned.
Washington is concerned about the recent trade rapprochement between Moscow and Ankara, especially after a meeting between Russian President Vladimir Putin and his Turkish counterpart Recep Tayyip Erdogan in Sochi, Russia, in early August. The meeting was endorsed by an agreement aimed at enhancing energy and economic cooperation between the two countries. In particular, it was agreed that Turkey pays part of its Russian gas imports in rubles and uses the Russian mir tariff system to a large extent. Last June, US Assistant Treasury Secretary Wally Adeyemo traveled to Ankara to express his country’s concerns to Washington about Russian businessmen and companies using their network in Turkey to circumvent Western sanctions.