ANKARA, March 4. /TASS/. The West’s pressure on Turkish financial institutions regarding the issue of payments with Russia has had a negative effect both on exporters and shipping companies, the Ekonomim newspaper wrote.
The problems related to payments received by Turkish exporters for goods supplied from Russia, which started at the beginning of January, have not been fully resolved yet. The Trade Ministry has received a pile of complaints from companies on banks’ rejections to make remittances from Russian financial institutions. The authorities have partially started carrying out transactions through one of the state banks, although not on all export items.
Due to the fact that the issue of receiving payment from Russia persists, companies are asking the authorities to put Russia on the list of exemptions for foreign trade operations. There are 33 countries on the list, including Iran, which is also a subject to foreign sanctions. The Turkish authorities are developing this issue, although it has not been resolved yet, while "the West’s blockade against the Turkish banking system is very tight," the paper said.
The problems with financial transactions have also affected Turkey’s marine logistics sector. Sources in the shipping sector told the newspaper that amid a reduction of shipments to Russia by Western companies complying with anti-Russian sanctions, Turkish shipowners have decided to fill this logistical gap and acquire additional vessels for trading with Russia. However, due to problems with payments and related facts, ships are standing idle in ports. A mismatch between supply and demand in the Russian direction is being seen, with cargo flows having dropped. Representatives of the sector also note that it has become difficult to compete with companies that continue delivering cargos while ignoring sanctions, and without officially insuring ships, as well as choosing alternative payment methods.