“Turkish banks began to block transit payments from Russia to Europe.”, — write: www.epravda.com.ua
Turkish banks began to block transit payments from Russia to Europe.
About this are reported “Vedomosti”.
Banks in Turkey began to massively refuse Russian companies to make payments to the European Union and other countries.
It is reported that the last time a similar situation was observed in early 2024, when Turkish banks began to fear secondary US sanctions for working with Russian companies. Then transactions gradually resumed.
Russia’s problems with transit payments through Turkey reappeared in the summer of 2024. European banks periodically began to refuse to accept payment for goods from Turkish suppliers in favor of Russian business suppliers.
“Increasing rigidity on the part of European credit organizations led to the fact that already at the beginning of September, Turkish banks began to refuse to make transit payments,” the publication notes.
At the same time, the Turkish state bank Emlak Katılım, which formally does not carry out transit payments, against the background of the refusal of other credit organizations from such operations, introduced an additional commission for them, which only large Russian companies can afford.
The reason may be that Turkish banks have become more afraid of sanctions or their correspondent banks are now making higher demands for payments from Turkey, the publication notes.
We will remind:
Turkey’s exports to Russia in February fell down by 33% year-on-year to $670 million in February 2024, compared to $1.1 billion in February 2023.
Using a loophole in sanctions, Turkey disguises Russian oil under its own and exports it to the EU, bringing billions in profits to Russia.