Saudi Press

Saudi Arabia and the world
Thursday, Jul 03, 2025

Turkey says concerns over US sanctions warning ‘meaningless’

Turkey says concerns over US sanctions warning ‘meaningless’

Turkey’s finance minister says no need for concern over possible US sanctions on firms dealing with sanctioned Russian businesses.

Turkey’s finance minister has dismissed as “meaningless” concerns among Turkish businesses over a warning about possible US sanctions on companies dealing with sanctioned Russian businesses.

The Turkish Industry and Business Association confirmed this week that it received a letter from US Treasury Deputy Secretary Wally Adeyemo cautioning that Turkish companies risked consequences if they did business with Russians or Russian institutions that were under US sanctions.

Finance Minister Nureddin Nebati said in a series of tweets on Friday Turkey was determined to improve economic and trade relations with its neighbours “within a framework that is not subject to sanctions”.

NATO member Turkey has sought to strike a balance between Moscow and Kyiv by criticising Russia’s invasion and sending arms to Ukraine, while opposing the Western sanctions and continuing trade, tourism and investment with Russia.

Turkey has said, however, it would not allow international sanctions to be breached.




“It is meaningless for a letter relayed to Turkish business groups to create concern in our business circles,” Nebati said, adding that he is “pleased” to see that the US is “inviting its businesses to invest in our economy”.

“Turkey is one of the most important political and economic power centres of the world. Our business world should feel the power of the state alongside it at all times,” he said.

Earlier this month, Turkish President Recep Tayyip Erdogan met his Russian counterpart Vladimir Putin in Sochi, Russia, where the two leaders pledged to further develop bilateral ties.

Putin noted at the time that Russian-Turkish trade doubled in the first five months of the year compared with the same period last year, a surge reflecting Moscow’s growing focus on ties with Ankara amid the bruising Western sanctions.

Faced with an economic crisis, Turkey is relying on Russia for trade and tourism. Russian gas covers 45 percent of Turkish energy needs, and Russia’s atomic agency is building Turkey’s first nuclear power plant.

Nebati said Turkey is confident it can balance its ties with Russia and its international relations.

“We are determined to develop our commercial and economic relations with our neighbors in various sectors, especially in tourism, within a framework that is not subject to sanctions,” he tweeted.

The head of a metal exporters group said this month that Russian demand for Turkish products had increased, and that Turkish companies had received enquiries from European businesses about supplying Russia via Turkey.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
Trump's Anti-War Stance Tested Amid Israel-Iran Conflict
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
×