Turkey dismisses ‘meaningless’ concerns over US sanctions warning

ISTANBUL, 28 August 2022, (TON): Turkey’s Finance Minister on Friday dismissed “meaningless” concerns among Turkish businesses over a US Treasury warning that they risked being penalised if they maintained commercial ties with Russians under sanctions.

NATO-member Turkey has sought to strike a balance between Moscow and Kyiv by criticising Russia’s invasion and sending arms to Ukraine while opposing the Western sanctions and continuing trade, tourism and investment with Russia.

Minister Nureddin Nebati said “Turkey was determined to improve economic and trade relations with its neighbours within a framework that is not subject to sanctions”.

Some Turkish firms have purchased or sought to buy Russian assets from Western partners pulling back, while others maintain major assets in Russia. Ankara has said Western sanctions will not be circumvented in Turkey.

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