During a telephone conversation between Turkish President Recep Tayyip Erdogan and his Russian counterpart Vladimir Putin, the former said he wanted the “expansion” of the volume of trade between the two countries.
“President Erdoğan said he aims to increase cooperation between Turkey and Russia in many areas, including expanding the volume of trade,” the Turkish presidency said in a statement.
Troubled ties between Ankara and Moscow
While quickly condemning the Russian offensive in Ukraine, Turkey opted for neutrality between the two countries and did not join Western sanctions against Moscow. The Turkish president then justified this policy by Turkey's strong dependence on Russian oil and gas.
Five Turkish companies were targeted by US sanctions in September 2023 for providing products and services to Russian companies in the defense sector.
In a letter sent in August 2022 to Turkish business circles, the US Deputy Secretary of the Treasury warned Turkish companies of an “increased risk” for them in the face of “Russia's attempts to use” Turkey. to escape sanctions.
