Business with Russia US threatens to impose sanctions on Turkish companies

Turkish President Rajab Tayyab Erdogan and his Russian counterpart Vladimir Putin

The US has warned Turkey of sanctions for doing business with Russian companies. According to the news agency AFP, a major Turkish business association has confirmed that it has received a letter from the US Treasury Department warning of sanctions on doing business with Russia. 

Concerns are growing in Washington (USA) that the Russian government and businesses are using the Turkish route to avoid sanctions imposed by Western countries.

After the Russian attack on Ukraine six months ago, the US and European countries imposed sanctions on Russia and its businesses.

Earlier this month, Turkish President Rejab  Tayyib Erdogan and his Russian President Putin agreed to expand economic cooperation during a conference in the Black Sea resort of Sochi the officially released data, between May and July this year, exports from Turkey to Russia increased by 50% compared to last year.

Turkey has increased the amount of oil it imports from Russia, and the two countries also agreed to pay Kremlin-linked natural gas giant Gazprom in Russian currency.

U.S. Treasury Undersecretary Adamu had informed Ankara of Washington's concerns over trade with Russia in a rare visit to Turkey in June.

NATO member Turkey has decided to remain neutral in the war between Russia and Ukraine and has refused to be part of global sanctions against Moscow.

Following Wale Ademi's visit, the US Treasury Department has now issued a letter warning the Turkish-American Business Association and the American Chamber of Commerce in Turkey not to risk self-imposed sanctions.

The Turkish Business Association said in a statement that the letter has been sent to the Turkish Ministry of Foreign Affairs and the Ministry of Finance.

"Any person or company that provides assistance to individuals on the US sanctions list risks being subject to the same sanctions," the letter reads.