Turkish banks will be more careful in their business relations with Russian businesses due to US President Joe Biden’s decree expanding the legal basis for imposing sanctions on the Russian Federation. TV channel reported this Public TV.
Signed the day before decree Biden provides the ability to disconnect banks from the financial system that have helped Russia bypass restrictions on its military-industrial complex and block imports of Russian-made products, including seafood, alcohol and diamonds processed in third countries.
Halk TV states that if Turkish banks were more careful in their business relations with Russia, this would reduce the number of accusations that Ankara is helping Moscow to circumvent restrictions. Additionally, Biden’s decree may make it difficult for Turkish financial institutions to conduct transactions in US dollars, which could negatively affect the republic’s foreign trade and investment.
Journalists also believe that the decree may create uncertainty in the Turkish economy, causing growth to slow down. The article emphasizes that Ankara’s reaction to the decree will depend on how it is implemented and how it will affect Turkish-American relations.
Previously USA extended List of anti-Russian sanctions