The US Treasury threatened Turkey with sanctions for trade with Russia

US Deputy Treasury Secretary Nelson threatened Turkey with sanctions for cooperation with Russia

Undersecretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson threatened Turkey with sanctions for trade cooperation with Russia.

“The noticeable growth of secondary Turkish exports and re-exports to Russia over the past year makes the Turkish private sector particularly vulnerable to reputational and sanctions risks… By interacting with Russian organizations under sanctions, Turkish banks and enterprises may be at risk and potentially lose access to the markets of the G7 countries and correspondent relations,” Nelson said, speaking in Istanbul.

Turkish businesses and banks, he said, should take “additional precautions to avoid transactions related to the potential transfer of dual-use technologies that can be used by the Russian military-industrial complex.”

“In order to reduce these sanctions risks, I urge you, as financial institutions, to conduct enhanced verification of transactions with Russian legal entities and individuals – especially in vulnerable sectors,” the US official said.

On Friday, Bloomberg reported that the United States, during negotiations with Turkey, demanded that Ankara stop exporting goods to Russia, as it allegedly helps Moscow conduct a special military operation. According to the agency, Brian Nelson held talks with the Turkish authorities, during which he stated that tens of millions of dollars’ worth of sanctioned goods came to Russia through their country, some of which could be used in military interests.