A very clear warning came to Turkey, which did not participate in the sanctions, from the USA, which has repeatedly implemented many sanctions against Russia. During his visit to Turkey, Undersecretary of the Treasury Department Brian Nelson, the top US sanctions officer, warned that Turkish companies and banks could face the risk of sanctions if they do business with Russian institutions.
The USA, which has implemented many sanctions against Russia after the invasion of Ukraine, is increasing the pressure on Turkey in this regard.
The Wall Street Journal newspaper wrote last week that the US administration had warned Turkey against providing service and technical support to US-made Russian passenger planes at Turkish airports. Russian media outlet RBK also reported that Havaş, one of Turkey’s main airport ground handling services providers, may stop serving US-made aircraft of Russian Airlines, and a letter was sent to Russian companies in this regard.
According to the news of Begüm Dönmez Ersöz, the Voice of America (VOA) site affiliated with the US administration, Brian Nelson, the Undersecretary of the Treasury Department, the top US official regarding sanctions, made clear warnings to Ankara in Turkey, which he visited this week.
Nelson, who is the Undersecretary of Terrorism and Financial Intelligence at the US Ministry of Finance, completed his Turkey contacts with the agenda of the Russian sanctions. Meeting with government officials and banking industry representatives, Nelson warned that Turkish companies and banks could face the risk of sanctions if they do business with Russian institutions on the sanction list.
Nelson met with the Banks Association of Turkey to discuss the international sanctions imposed on Russia due to the Ukraine invasion, on the Istanbul leg of his visit to Turkey, which he went after the United Arab Emirates. In his speech, the US undersecretary underlined the joint effort to eliminate weak points in the fight against money laundering and terrorist financing.
According to the transcript published on the ministry’s official website, Undersecretary Nelson warned that Turkish companies and banks that do business with sanctioned Russian institutions “may risk losing their access to the G7 market.”
TECHNOLOGY TRANSFER AND PROPERTY SECTOR WARNING
US officials stressed that Turkish companies and banks should take more precautions to avoid dual-use technology transfer transactions that could be exploited by the Russian military industrial complex.
Stating that the real estate sector is one of the sectors most open to abuse by illegal actors in Turkey and the USA, the senior US official said that the private sector should subject real estate transactions to strict scrutiny in order to prevent money laundering on luxury real estate. Brian Nelson reminded that they warned the private sector against the possibility of Russian oligarchs on the sanctions list to invest in real estate in America.
Stating that they understand that Turkey is dependent on energy imports and agricultural product trade from Russia, the US undersecretary drew attention to the increase in exports of secondary products from Turkey to Russia in the last year. The American official warned that this situation makes the private sector in Turkey open to the risk of sanctions.
CALL FOR STRICT CONTROL
“Moscow is trying to use its opaque economic relations to counter international sanctions. “Russian banks are promoting deceptive payment practices and disguising payments,” he said.
Nelson warned that Turkish companies and banks that do business with Russian institutions on the sanctions list “may risk losing their access to the G7 market”. Stating that Russian businessmen continue to buy real estate and yachts in Turkey, the American official called for stricter control in transactions with Russian institutions and individuals in order to reduce the risk of sanctions.
Stating that they are working to stop Russia’s efforts to bypass international sanctions and financial controls in many countries, including Turkey, Nelson stated that they understand that Turkey faces difficulties because it is an international trade center close to conflict zones.