U. S. official travels to Turkey to discuss sanctions against Russia
2022.10.19 17:23
U. S. official travels to Turkey to discuss sanctions against Russia
By Tiffany Smith
Budrigannews.com – As Washington closely monitors the expanding economic ties between Ankara and Moscow, a senior Treasury Department official traveled to Turkey this week to discuss sanctions and export controls imposed on Russia following its invasion of Ukraine.
From Monday through Wednesday, Assistant Secretary for Terrorist Financing and Financial Crimes Elizabeth Rosenberg visited Ankara and Istanbul, where she met with counterparts from the ministries of finance and foreign affairs as well as private financial and commercial sector representatives, according to a statement.
The meetings “affirmed the importance of close partnership” between the United States and Turkey in addressing sanctions evasion risks, according to the Treasury Department.
Since its invasion of Ukraine, Washington and its allies have imposed a number of sanctions on Moscow, including those on the country’s largest lenders and Russian President Vladimir Putin.
Wally Adeyemo, the Deputy Treasury Secretary of the United States, traveled to Turkey in June to discuss the invasion and the implementation of Moscow’s sanctions.
Ankara is a NATO member that opposes Western sanctions against Russia and has close ties to both Moscow and Kyiv, Russia’s neighbors along the Black Sea. It also sent armed drones to Ukraine and condemned Russia’s invasion.
It has also increased trade and tourism with Russia at the same time. While others keep substantial assets in the country, some Turkish businesses have purchased Russian assets from Western partners who have withdrawn due to the sanctions or have attempted to do so.
However, Ankara also promised that the sanctions in Turkey would not be circumvented.
In August, the U.S. Treasury issued a warning that Russian entities were attempting to use Turkey to circumvent Western sanctions. This warning was sent to the Turkish Treasury Ministry as well as the largest business group in the country, TUSIAD.
Turkey has argued that it is focused on mediation efforts and that joining sanctions against Russia would have hurt its already-strained economy.
