Payments from Russia to Türkiye stopped due to sanctions

Problems with money transfers from Russia to Türkiye, which appeared in December last year, continue to grow, Report informs via the Turkish newspaper Ekonomim.

As of January 1, 2024, payments ceased, leading to serious disruptions in exports.

According to sources, after the visit of US Secretary of State Antony Blinken to Türkiye, banks began to return transfers from Russia or refuse payment, citing sanctions. Representatives of the automotive and textile industries were hit especially hard, as they did not receive payment from their Russian partners.

The publication notes that the Turkish authorities are thus demonstrating efforts in the fight against money laundering in order to get out of the so-called gray list of the Financial Action Task Force (FATF).