US warning Turkey as a threat
US pressure on Turkey to “reduce trade with Russia” continues.
In a story headlined “America needs to see that Turkey’s trade with Russia has slowed,” published yesterday by Britain’s Reuters news agency and based on a senior US official, Turkey agreed to halt the transfer of sanctioned products to Russia as a result of pressure from the G7 countries.
‘WE EXPECT A DRAMATIC FALL’
Stating that Turkey has very clearly notified various governments and organizations that it prohibits the re-export of sanctioned goods to Russia, the head of the US State Department’s Office of Sanctions Coordination, James O’Brien, said that they have not seen the effect of this decision. in the data yet, which will take some time. He said they will look at the Russian trade data and expect to see a dramatic decline in trade volume between the two countries.
As NATO countries led by the US and Russia clashed in Ukraine, the US, UK and the European Union had put in place the toughest economic sanctions in history against Russia.
Reuters noted that despite the sanctions, supply channels to Russia from other trading hubs, including Black Sea neighbors Turkey and Hong Kong, remain open.
BANNED ON MARCH 1
The Istanbul Ferrous and Non-Ferrous Metals Exporters Association (IDDDMIB) announced last month that the Turkish government has given companies a list of prohibited foreign products and instructed them not to transfer them to Russia from March 1. .
Stating that Ankara is trying to maintain good relations with both Moscow and Kiev during the war, Reuters claimed that Ankara opposes sanctions in principle, but says they do not send products that could be used by the Russian military and do not circumvent the sanctions
Several US officials, including US Treasury Assistant Secretary Wally Adeyemo, went to Turkey after the invasion began and warned Turkish companies and banks against violating US sanctions.
‘PLAY ROULETTE’
O’Brien said Kazakhstan has also decided to review trade with Russia and identify items that may violate sanctions, saying they hope to see progress in this area as well.
Stating that the United Arab Emirates (UAE) will also review its trade with Russia, O’Brien said that this country did not promise to take a step, “Russia uses these products to make weapons. We openly say that this is a top priority for the G7”, and he expressed the following threat:
“So they are playing roulette with the future of their business if they continue to support this trade.”
The United States had previously warned the United Arab Emirates administration claiming they were not complying with the sanctions.
Türkiye-RUSSIA TRADE IN NUMBERS
Turkey’s exports to Russia, which were $5.8 billion in 2021, increased by 62 percent in 2022 to $9.3 billion, breaking an annual record.
Turkey’s imports from Russia, which were $29 billion in 2021, have also reached their all-time high, increasing by 103 percent to $58.9 billion in 2022.
The volume of foreign trade between the two countries, which was 34.7 billion dollars in 2021, reached 68.2 billion dollars in 2022 with an increase of 96 percent.
Turkey’s imports from Russia, which were $12.7 billion in the January-March 2022 period, rose 4 percent to $13.2 billion in the same period in 2023.
On the other hand, in March 2023, Turkey’s imports from Russia decreased by 5 percent compared to the same month of the previous year, to $4.2 billion.
Turkey’s exports to Russia, which were $1.2 billion in the January-March 2022 period, increased by 168 percent to $3.1 billion in the same period in 2023.
In March 2023, Turkey’s exports to Russia increased by 285 percent compared to the same month of the previous year, reaching $1.1 billion.