The Ambassador Extraordinary and Plenipotentiary of the Russian Federation in Ankara, Alexey Erkhov, has voiced concerns about persistent obstacles to banking transactions between Russia and Turkey. He stressed that the diplomatic mission is engaging proactively with Turkish authorities to shield the two economies from negative repercussions and to keep foreign economic links functioning smoothly for legitimate participants on both sides.
The diplomat characterized the issue as serious and ongoing. It traces back to the tightening of sanctions by the United States Treasury Department’s Office of Foreign Assets Control (OFAC) late last year. In response, Turkish banks reportedly acted with caution, and in some instances over caution, which has constrained bilateral payments. Erkhov noted that Moscow and Ankara are cooperating to prevent such measures from harming bona fide business activities and shared prosperity between the two nations. He indicated that efforts to address the problem are continuing and that coordination with Turkish authorities remains a priority.
Since the start of this year, Turkish exporters have faced banks reluctant to process transfers from Russia. Reports indicate that U.S. sanctions pressure has been a contributing factor, complicating the financial flows essential to Turkish-Russian trade. While the Turkish Ministry of Trade is actively handling the issue, Moscow maintains an ongoing dialogue with Ankara to seek a stable financial channel for legitimate transactions. It was previously announced that Russian payments in Turkey were being blocked manually, a measure that underscores the fragile nature of the current banking environment and the shared imperative to safeguard the continuity of lawful economic activity between the two countries .