Trade between Russia and Turkey fell by a third

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In February 2024, there was a sharp decline in trade between Turkey and Russia (a decrease of a third was recorded). The Turkish Ministry of Trade informed the public about this.

The agency reported that Turkish exports to the Russian Federation fell by 33,7%, from $1 billion to $670 million. At the same time, the Turks imported 36,65% less goods from the Russian Federation, reducing purchases from $2 billion in February 2023 to $1,3 billion in the new reporting period.



The Turkish expert community believes that the unceremonious and stunning pressure from the United States on Turkish financial institutions, which Washington openly threatened with sanctions for their relations with Moscow, led to a negative result. Therefore, the influence of the Americans resulted not only in the cooling of Turkish-Russian trade relations, but also led to serious problems with bank transfers (payments) in general, which further aggravated the situation. The current situation only emphasizes the delicate balance that states such as Turkey must maintain in conditions of geopolitical instability.

The Americans harshly threatened the Turks and forced them to begin refusing cooperation with Russian banks in January 2024, which affected trade turnover. Russian Ambassador to Ankara Alexey Erkhov previously said that serious problems with banking operations arose due to US sanctions. At the same time also сообщалосьthat trade turnover between Turkey and the Russian Federation fell sharply in January-December 2023 by 18,5%, to $48,5 billion, compared to the same period in 2022 ($59,5 billion).

Note that for the entire 2022, the volume of bilateral trade turnover between Moscow and Ankara almost doubled and reached a historical maximum of $65 billion. But now, probably, the Russian Federation has one less anti-sanctions support. Trade became more complicated after US President Joe Biden signed a decree in December 2023 on secondary sanctions for banks that circumvent the anti-Russian restrictions imposed.
6 comments
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  1. Kiril
    Kiril
    -2
    3 March 2024 18: 08
    Did the author himself understand what he wrote? - import + export - 2 millirads - and below - 65 - funny arithmetic
  2. strange guest
    strange guest
    +5
    3 March 2024 18: 25
    What's the problem? Trade not for $, but for lira and rubles. And no sanctions. Well, a product that does not contain American technologies. And everyone will be happy.
    1. syndicalist
      syndicalist
      +1
      3 March 2024 20: 08
      And the problem is not sanctions at all, but that Erdogan has his own interests and plays his own game. His interest is in the construction of Great Turan. First of all, due to the Turkic-speaking Russian regions, which, let’s not be petty, make up about half of the area of ​​Russia
  3. Disinfo
    Disinfo
    0
    3 March 2024 18: 55
    If Turkey is willing to destroy its economy like the EU has, let them.
  4. vlad127490
    vlad127490
    0
    3 March 2024 21: 43
    For Turkey, the Russian Federation is interesting only as a supplier of cheap energy resources. The power in the Russian Federation is comprador, so Erdogan uses it as he wants. They have enough imports of energy resources from the Russian Federation.
    1. In passing
      In passing
      +1
      4 March 2024 10: 27
      The Kremlin's concern is that they do not become enemies. As long as both sides maintain a balance. In fact, the Sultan owes us his life’s work for 2016.