FT: Western countries are concerned about Turkey’s deepening of cooperation with Russia

The news in the Financial Times newspaper stated that Western capitals began to worry about the deepening economic cooperation between Ankara and Moscow, and that Turkey could face punitive measures if Russia helps it avoid sanctions.

Speaking to the newspaper, six Western officials said they were concerned about the men thrown by Turkish and Russian leaders to expand cooperation in the fields of trade and energy after their four-hour meeting in Sochi.

One of the officials stated that the EU is now watching the Turkish-Russian cooperation more closely and expressed their concern about Turkey’s transformation into a trading platform with Russia. Another official described Turkey’s approach towards Russia as “opportunistic”.

Washington warns countries, especially China, not to help break the sanctions against Russia.

US Deputy Secretary of the Treasury Wally Adeyemo also paid a visit to Ankara in June, and it was stated that during the visit, the issue of Turkey not becoming a base of Russian capital subject to sanctions was discussed.

Speaking to the Financial Times, another senior Western official said that if Erdogan puts into effect the agreement he reached with Russia in Sochi, EU countries can call on companies and banks in Turkey to leave the country.

Turkey does more than half of its foreign trade with the European Union.

Speaking to the newspaper, the official also said, “In light of the risk that Turkey’s deepening of its relations with Russia, it may call on Western companies to terminate their relations in Turkey or to reduce their activities.”

The official suggested that it would be difficult for the EU to take an official sanction decision against Turkey, given the divisions within the bloc, but that some member states could take action individually:

“For example, they can ask for restrictions on trade finance, or they can ask big financial companies to reduce financing to Turkish companies.”

Turkey, which is integrated into the Western economy, made the most exports to Germany in 2021. While exports to Germany amounted to 19 billion 321 million dollars, this country was followed by the USA with 14 billion 722 million dollars, the United Kingdom with 13 billion 704 million dollars, Italy with 11 billion 475 million dollars and Iraq with 11 billion 133 million dollars.

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