Flash claim from Russian press: Turkish banks are halting transactions with Russia and Belarus

Turkish banks are planning to halt transactions with Russia and Belarus and transfer these operations to only one bank.

A source told the Russian news agency TASS that almost all Turkish banks are trying to stop providing services related to transactions with Russia. The banks are attempting to transfer their services to a local bank.

The source stated, “According to the current situation, almost all Turkish banks want to completely withdraw from transactions with Russia and Belarus. They want to leave all these transactions to Emlak Katılım Bank to protect themselves from problems that may arise in the future in the form of restrictions and sanctions.”

'TRANSACTIONS ARE ONLY TAKING PLACE AT EMLAK KATILIM BANK'

The issue concerns private and state banks that do not have foreign partners, primarily Western banks. Financial institutions with Western partners have effectively stopped providing services for transactions related to Russia.

The source noted that “only Emlak Katılım Bank is carrying out buying and selling transactions in the Russian ruble/Turkish lira pair.”

Previously, Russia's Ambassador to Turkey, Alexey Erkhov, had stated that Turkish banks were increasingly “squeezing” companies involved in the transit of goods to Russia, blocking their transfers, and closing their accounts.

News Source: 12punto