ANKARA, March 27Turkish exporters still cannot receive remittances from Russia, local banks are rejecting payments, authorities are treating the situation as a “force majeure”, trade between the two countries may to stall, writes the newspaper Dünya.
“Since the beginning of the year, exporters have been unable to both receive money and close their export accounts because banks in Turkey have rejected payments from Russia. However, according to the Communiqué on Decision No. 32 on the protection of the value of the Turkish currency and the Export Circular, for its implementation, export proceeds must be delivered to the country within 180 days. The Ministry of Commerce considers this period as force majeure for Russia and Ukraine and may grant an additional extension of up to 24 months after the end of the notice period,» the publication writes.
The publication, citing the opinions of local market representatives, notes that “Turkey’s trade with Russia has stalled.”
«The situation will also lead to a reduction in production capacity. After all, when the market is closed, this leads to a slowdown in production. The reduction in capacity also affects employment,» the publication notes.
The problem with payment transfers from Russia to Turkey largely remains, intensive work continues to resolve it, Russian Ambassador to Turkey Alexey Erkhov said earlier. The Turkish side is officially aware of the existing problems in payment transfers with Russia, considers the situation not catastrophic, the relevant departments of the two countries are working to resolve the situation, a source in the country’s presidential administration also told the agency.
At the same time, a source in the banking sector reported on February 14 that the United States, based on sanctions policy, is warning a number of private banks in Turkey about the need to carefully check payment transfers with Russia and is reaching a threatening tone.
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