Finance minister says no need for concern over US sanctions warning

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Business circles in Türkiye should not be concerned by a warning about possible US sanctions on companies cooperating with sanctioned Russian businesses, the finance minister has said.

"It is meaningless that the letter sent to Turkish business organizations should cause a concern in our business circles," Nureddin Nebati wrote on Twitter today (August 26).

Last week, the US Treasury sent a letter to the Turkish Industry and Business Association (TÜSİAD) and the Ministry of Treasury and Finance to warn businesses that Russia's oligarchs are attempting to bypass Western sanctions via Türkiye.

"We are pleased to see that the US, our ally and trade partner, is inviting its businesses to invest in our economy," Nebati wrote.

Noting that Türkiye attaches great importance to making joint efforts and strengthening cooperation with its allies against global and regional challenges, Nebati wrote, "We are determined to enhance our economic and commercial ties with our neighbors, especially in the field of tourism and various sectors within a framework that is not subject to sanctions.

"All players of the Turkish economy are committed to the principles of free market economy. It is trying to increase share in global trade." (SD/VK)