OREANDA-NEWS Some Turkish banks have begun to close accounts of Russian companies and tighten requirements for individuals, Vedomosti newspaper writes with reference to financial consultants and business owners.

"Turkish banks have tightened their policy towards Russian clients – some financial institutions have begun to close accounts for companies and have increased requirements for individuals who are going to get a card," the publication says.

In December, US President Joe Biden signed a decree that expands the legal grounds for imposing anti-Russian sanctions. In particular, it makes it possible to disconnect banks from the financial system that are convicted of helping Moscow circumvent sanctions against its military-industrial complex, and block imports of products of Russian origin, including seafood, alcohol and diamonds, in case of deep processing in third countries.

As one of the sources told the publication, until December there were "two omnivores and two semi-omnivores" in Turkey from the point of view of the bank's work with Russia. However, after Biden's decree, the first two financial organizations began to close accounts of Russian firms, fearing to fall under American sanctions. The second two banks, according to the source of the publication, break off business relations primarily with those who began cooperation with them after the outbreak of hostilities in Ukraine.

In September 2022, Turkish banks also suspended the service of Mir cards. Moscow has repeatedly stated that Russia will cope with the sanctions pressure that the West began to exert on it several years ago and continues to strengthen. The Russian authorities noted that the West does not have the courage to admit the failure of sanctions against the Russian Federation. There have been opinions in Western countries themselves that anti-Russian sanctions are ineffective.