Turkey-Russia money transfers in US crosshairs: 'Strictly monitored'

It has been reported that the US began strictly monitoring banking transactions between Turkey and Russia starting in mid-September. According to a source at a Turkish state bank, the US is using a very harsh tone in letters sent to banks and is demanding strict control over transactions.

Speaking to the RIA agency in Ankara, a Turkish source stated that information is constantly being requested, particularly regarding the source of money transfers. 

The agency's contact said, "Since mid-September, the US has relaunched its control policy over banking transactions (with Russia). This policy has reached a threatening tone in the letters sent to banks."

According to the report in Türkrus, Russia's Ambassador to Turkey Aleksey Yerhov had previously told RIA Novosti that cases of companies involved in the transit of goods to Russia being "squeezed" were becoming more frequent in Turkish banks, with instances of transfers being blocked and accounts being closed.

These US audits are seen as part of the increasing pressure on Turkey due to its financial relations with Russia. In particular, cases where the bank accounts of some Turkish companies involved in the transit of goods to Russia were closed and money transfers were blocked have increased. Banks in Turkey are being forced to act more cautiously in the face of US sanctions.

Foreign Minister Hakan Fidan had previously stated that the lifting of sanctions on Russia could come to the agenda during a possible peace negotiation process regarding Ukraine. However, the Russian side maintains that it will resist the pressure of sanctions and that these pressures will not be effective in the long term.

News Source: 12punto