Departure from normal payment flows has troubled Turkish exporters since the start of the year. Russian buyers facing transfer delays have left Turkish sellers unable to close export accounts, forcing them to seek workaround methods in order to receive funds. Some manufacturers have turned to third countries and alternative cargo routes as interim solutions. Local Turkish media have reported on these workarounds as a sign of ongoing friction in cross-border trade with Russia.
Updates show that new orders destined for China and other partners are also facing hurdles because exporters cannot finalize export accounts in a timely fashion. The resulting delays ripple through supply chains, affecting production planning and cash flow for multiple industries across Turkey.
Turkish exporters are pressing for a policy adjustment that would exclude revenues earned from Russia from the mandatory 180-day repatriation rule. Such an exemption would help stabilize liquidity and reduce the risk of unsold orders piling up in warehouses as exporters navigate the current limitations on settlement channels.
Data indicate that a broad group of 33 countries is currently listed in the exception framework. The group includes Afghanistan, Belarus, Iran, and Cuba among others. In February, four additional African nations were added to the list, while Egypt and Saudi Arabia remain outside the exemptions. These adjustments reflect ongoing negotiations aimed at preserving international trade flows under evolving financial controls.
According to the Turkish Exporters Assembly, January exports to Russia fell by over thirty percent year-on-year, totaling approximately 551.1 million dollars. When special economic zones are considered, the decline deepens to about 631 million dollars, a drop nearing forty percent. The figures underscore the scale of disruption faced by Turkish exporters reliant on Russian markets and highlight the urgent need for clarity on foreign exchange and settlement procedures.
International collaborations are emerging to test new payment arrangements. Last week, the Italian and Russian Chambers of Commerce announced attempts to process settlements in rubles as a potential pathway to reduce friction in bilateral trade. These efforts illustrate a broader interest among trading partners in diversifying settlement currencies to mitigate exposure to single-country financial restrictions.
In parallel, statements from major banking partners indicate continued openness to Russian transactions within the constraints of existing regulations. The Bank of China has reiterated its willingness to process payments from Russia under appropriate compliance protocols, signaling that some financial institutions remain active in supporting ongoing trade despite broader market pressures.