Media Wire

US trying to persuade Turkish banks, companies to cut ties with Russia: Report

Turkish businesses are at risk of being banned from carrying out currency operations if they continue to trade with Moscow, RIA Novosti reported on Wednesday, citing the news outlet Aydinlik. American officials have reportedly visited Turkey to persuade banks and companies to sever ties with Russia.

At the behest of the US authorities, Turkish banks already do not process trade payments from Russia except for food and are now facing the threat of having currency swaps cut off if they do not terminate relations with their Russian partners.

In a separate report earlier this week, Aydinlik revealed that US officials had visited some Turkish companies and financial institutions and threatened to penalize them over trade relations with Russia.

Earlier this month, many Turkish banks started closing the corporate accounts of Russian businesses and tightening policies for individuals in light of the threat of secondary sanctions from the US.

According to some media reports, Turkish financial institutions have already cut ties and suspended processing payments with almost all Russian banks to avoid the risk of sanctions.

The emerging payment issues come after US President Joe Biden signed an executive order in December allowing for secondary sanctions to be placed on foreign banks suspected of supporting Russia.

US officials have repeatedly highlighted Turkey as a potential hub of sanctions evasion, with some Western officials raising concerns about allegations of trade between Turkish firms and sanctioned Russian entities.

Kremlin spokesperson Dmitry Peskov stated in early February that the Russian authorities were aware of the situation and confirmed that negotiations were underway, blaming “unprecedented, blatant and aggressive US pressure on Turkey and Turkish companies.”

IFP Media Wire

Reports and views published in the Media Wire section have been retrieved from other news agencies and websites, and do not necessarily reflect the opinion of the Iran Front Page (IFP) news website. The IFP may change the headlines of the reports in a bid to make them compatible with its own style of covering Iran News, and does not make any changes to the content. The source and URL of all reports and news stories are mentioned at the bottom of each article.

Recent Posts

Iranian men’s team secures silver at Karate World Cup

Iran's karate team emerged on Sunday as the runner-up at the Karate World Cup, held…

2 hours ago

Iran preparing response to Israel: Senior advisor to Leader

Ali Larijani, a senior advisor to Iran's Leader Ayatollah Seyyed Ali Khamenei, has revealed that…

3 hours ago

Analyst: Leader advisor’s recent interview signals shift in Iran’s diplomatic approach

A political analyst believes that Ali Larijani, a seasoned Iranian politician, has recently indicated a…

3 hours ago

Former Iranian diplomat warns of potential US-Europe collaboration against Iran

A former Iranian diplomat in New York has expressed concerns that the issue of ties…

3 hours ago

Over 1,000 doctors, nurses killed in Israeli attacks in Gaza since start of war: Report

More than 1,000 doctors and nurses have been killed in Israeli attacks in the besieged…

6 hours ago

Deputy foreign ministers of Iran, France, Germany, UK to meet for talks on various issues

The Spokesperson for the Iranian Foreign Ministry Esmaeil Baqaei announced that the deputy foreign ministers…

6 hours ago