The refusal of Turkish banks to work with the Russian Federation is not a disaster. Russian companies can use alternative service channels. This opinion was shared by the Doctor of Economic Sciences, head of the laboratory of the Faculty of Economics of Moscow State University, in a conversation with the radio station “Moscow Speaks”. Lomonosov Andrey Kolganov.
“Both Turkey and China have a very large trade turnover with Russia. They cannot break off these trade relations, so we are talking only about individual banks for which the threat of Western sanctions outweighs the benefits they receive from trade with Russia,” the economist noted.
Russian companies have been experiencing difficulties in transferring funds to Turkey for a long time. Since January 1, 2024, the situation has worsened significantly: almost all Turkish credit institutions denied Execute transactions without fear of exposure to US sanctions. Some banks even returned previously accepted transfers with the comment that the transactions related to “prohibited goods.”
Formerly Central Bank was recorded Decrease in the volume of deposits of Russians in foreign banks.