Turkey's finance minister dismissed as 'nonsense' the concerns of Turkish businesses regarding threats to trade relations with R...
Turkey's finance minister dismissed as 'nonsense' the concerns of Turkish businesses regarding threats to trade relations with Russia, which is subject to sanctions by the US.
According to a Reuters report published in Dawn newspaper, NATO member Turkey tried to strike a balance between Moscow and Kyiv by criticizing Russia's invasion and sending weapons to Ukraine, while opposing Western sanctions and siding with Russia. Trade, tourism and investment continue.
Also read: US warns Turkey on relations with Russia despite sanctions
Turkish Finance Minister Nuruddin Nabati said that Turkey is committed to improving economic and trade relations with its neighbors.
A number of Turkish companies are backing away from buying Russian assets from Western partners, while a few still have assets in Russia, but Ankara has said Turkey will not be subject to Western sanctions.
Earlier this month, the US Treasury Department warned the country's largest business group TUSIAD (TUSIAD) and the Turkish finance minister that Russian entities may try to use Turkey to circumvent Western sanctions. have been.
Read more: Turkey vows to buy more defense systems from Russia despite US warning
Turkey's finance minister said in a tweet that "the letter sent by Turkish business groups regarding the concerns of our business circles is meaningless. Inviting investment in the economy'.
He said Turkey's economy is all about adhering to free market principles and working to gain a greater share of global trade, and the government is "along with its business world on this path."
Tim Ash, a strategist at Blue Bay Asset Management, said the Turkish finance minister's response was a threat to Washington, which made secondary sanctions against Turkey more likely.
Tim Ash wrote on Twitter that 'Turkey is a strong state strong enough to counter any possible move against us'.
Also Read: Relations With Biden Administration Not Off To A Good Start, Turkish President
Turkey, which shares borders with Russia and Ukraine on the Black Sea, has said that joining sanctions against Russia would hurt Russia's already strained economy and argued that it was focused on mediation efforts.
One benefit for Turkey has been an increase in foreign arrivals, favoring Russian travelers with limited opportunities due to the ban on Western flights.
The head of a group of metal exporters said that Russian demand for Turkish products has increased this month and that Turkish companies have been approached by European businesses about supplying Russia via Turkey.
Read more: Turkish president's telephone conversation with Emirati crown prince, hope for improvement in relations
Security concerns
Officials from Turkey, Finland and Sweden have agreed to continue meeting in the coming months to discuss security concerns over Turkey's decision to join the Nordic countries in the NATO military alliance. were offered as a pre-condition for permission.
Officials of the three countries had their first meeting yesterday in Vantaa, Finland.
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