Connect with us

Politics

Alarm is rising in Western capitals over deepening ties between Turkey and Russia

Published

on

 


Western capitals are increasingly alarmed by the deepening ties between Turkish President Recep Tayyip Erdoan and Vladimir Putin, raising the prospect of punitive retaliation against the NATO member if he helps Russia evade sanctions.

Six Western officials told the Financial Times they were concerned about the Turkish and Russian leaders’ pledge to expand cooperation on trade and energy after the two men met in Sochi on Friday.

An EU official said the 27-member bloc was monitoring Turkish-Russian relations increasingly closely. A senior Western official also suggested countries could call on their businesses and banks to pull out of Turkey if Erdoan follows through on the intentions he outlined on Friday, a highly unusual threat against another NATO member state that could seriously damage its already fragile $800 billion economy. .

Three European officials said the EU had not yet held formal discussions on the possible repercussions for Turkey. Several others warned that it was unclear what Erdoan and Putin had agreed on and that a formal EU decision on sanctions against Turkey would be difficult given divisions over the issue within the bloc.

But even without an agreement with the EU, some member states could take action. For example, they could ask for trade finance restrictions or ask big financial firms to cut funding for Turkish companies, an official said. I wouldn’t rule out any negative action [if] Turkey is getting too close to Russia, he added.

Hints of potential retaliation against Turkey come after Ukraine intercepted a document from Moscow that outlines ways to help Russia evade sanctions through Turkish banks, according to a Ukrainian intelligence official and diplomat western.

Washington has repeatedly warned that it will hit countries that help Russia evade sanctions with secondary sanctions targeting violations beyond US legal jurisdiction. US Deputy Treasury Secretary Wally Adeyemo met with Turkish officials and Istanbul bankers in June to warn them not to become a conduit for illicit Russian money.

After last week’s meeting in Sochi, Moscow’s top energy official, Deputy Prime Minister Alexander Novak, told reporters that Turkey had agreed to pay for Russian gas in rubles, according to Interfax. Putin and Erdoan discussed the further development of banking relations and settlements in rubles and liras, he added.

Speaking on his plane back from Russia, Erdoan told reporters that there were also very serious developments regarding the use of Russia’s Mir payment card system, which allows Russians in Turkey to pay by card at a time when Visa and Mastercard suspended operations in their home countries. . Erdoan said Mir cards would help Russian tourists pay for shopping and hotels. Western officials fear they could also be used to help circumvent sanctions.

Turkey is deeply integrated into the Western financial system, and brands ranging from Coca-Cola and Ford to Bosch and BP have long-standing and often highly profitable operations in the country.

The senior Western official suggested that governments could act against Ankara by calling on Western companies either to withdraw from relations in Turkey or to reduce their relations with Turkey, in light of the risk that the widening of the relationship between Turkey and Russia.

Such a move would create thorny legal and practical issues and would likely face outright opposition from several European governments wary of such harsh measures against a close neighbour.

It would also clash with commercial interests. There are very important economic interests that would likely fight hard against such negative actions, a European official said.

Erdoan has pursued what he calls a balanced approach in Kyiv and Moscow since the full-scale Russian invasion of Ukraine in February.

Its diplomatic relations with the West are already strained. Washington hit Ankara with sanctions in 2020 in retaliation for buying an S-400 air defense system from Moscow, though the measures targeted the country’s defense industry rather than the broader economy.

The Turkish president holds significant leverage. He has repeatedly threatened to veto Sweden’s and Finland’s NATO membership, and is a vital partner for Europe in the fight against terrorism and refugees. The country hosts around 3.7 million Syrians under a deal struck with the EU in 2016 that has helped stem the flow of migrants to Europe.

The conflict between Russia and Ukraine has highlighted the strategic importance of Turkey, controlling access to the strait that connects the Black Sea to the Mediterranean. Erdoan also played a role in securing the grain deal signed by Russia and Ukraine last month aimed at averting a global food crisis.

Sources

1/ https://Google.com/

2/ https://www.ft.com/content/00badf9e-f0d9-417f-9aec-9ac1c2207835

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]