Ankara has balanced its good ties with both Moscow and Kyiv throughout the war in Ukraine. Read more at straitstimes.com.
ISTANBUL - The United States has in recent days warned Turkey about the export to Russia of chemicals, microchips and other products that can be used in Moscow’s war effort in Ukraine, and it could move to punish Turkish companies or banks contravening sanctions.
In a speech to bankers, Mr Nelson said a marked year-long rise in exports to Russia leaves Turkish entities “particularly vulnerable to reputational and sanctions risks”, or lost access to Group of Seven markets. In the meetings in Ankara and Istanbul, Mr Nelson and a delegation highlighted tens of millions of dollars of exports to Russia that raised concerns, according to a senior US official who requested anonymity.
Western nations applied the export controls and sanctions after Moscow’s invasion nearly a year ago. Yet supply channels have remained open from Hong Kong, Turkey and other trading hubs.
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