Aleksey Erkhov, the Russian Ambassador to Ankara, indicated that there are notable obstacles in the system of bank transfers linking Russia and Turkey, while bilateral efforts to address these issues remain in progress. The update was reported by TASS, reflecting the ongoing diplomatic and economic dialogue between the two neighboring economies.
He stated that the existing frictions affect the interests of both Russian and Turkish participants in foreign trade and financial activity. The ambassador emphasized that efforts to remedy the situation are actively underway, yet there are moments when the path forward appears exceptionally challenging for some stakeholders in both markets.
According to Erkhov, releasing detailed information about the measures being taken might undermine the work, so specifics are not publicly disclosed. The diplomat underscored the sensitive nature of the process and the pragmatic need to balance transparency with the efficiency required to stabilize payments and settlement channels.
Reports from Eski Ekonomim noted that Turkey’s Ministry of Trade has compiled a list of companies experiencing payment difficulties with Russian counterparties. Turkish exporters have faced banks declining to process transfers from Russia for goods payments, creating a ripple effect across the supply chain. There has also been mention that Denizbank’s requests for residence permits involving Russian citizens relate to internal procedures rather than any shift in sanctions policy from the United States or other jurisdictions.
These developments come amid broader conversations about regional energy and trade flows, including prior concerns about unofficial Russian oil movements to European markets. The intertwined nature of finance, policy, and real-world trade means that when one channel encounters friction, allied businesses and policymakers must recalibrate quickly. In this context, Turkish banks, Russian banks, and multinational institutions are weighing risk, liquidity, and regulatory alignment to restore smoother cross-border payments. The situation illustrates how political signals, banking compliance standards, and commercial needs converge to shape the practical realities of bilateral commerce for Canadian and American observers and enterprises operating across these markets.