US warns of sanctions against Turkey over Russia ties

ISTANBUL, 26 August 2022, (TON): Turkey’s top business association has confirmed receiving a letter from the US Treasury warning of possible sanctions if it continues doing business with Russia.

Washington is growing increasingly alarmed that the Russian government and businesses are using Turkey to evade Western financial and trading restrictions imposed in response to the Kremlin’s invasion of Ukraine six months ago.

Turkish President Recep Tayyip Erdogan and Russian counterpart Vladimir Putin agreed to step up economic cooperation at a summit in the Black Sea resort of Sochi earlier this month.

Official data show the value of Turkish exports to Russia between May and July growing by nearly 50 percent from last year’s figure.

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