19.07.2024, 09:48
Turkey called for the creation of a mutual payment system with Russia
Source: OREANDA-NEWS
OREANDA-NEWS Turkey and Russia, against the background of trade problems, need to create a mutual payment system, exports are declining due to US sanctions pressure, deputy chairman of the Turkish Vatan ("Homeland") party told RIA Novosti Hakan Topkurulu.
The volume of Turkish exports in the first half of 2024 decreased by almost 22% compared to the same period in 2023, according to calculations by RIA Novosti. Turkey supplied $3.795 billion worth of goods to Russia from January to June, according to data published by the Turkish Exporters Council (TIM). Thus, the Russian Federation has dropped from 7th to 10th place in the list of main importers of Turkish goods, its share in total exports is about 3.5%.
"Turkey is experiencing problems in connection with the sanctions imposed on Russia, especially in the field of exports of industrial goods. Exports decreased by $ 1 billion 382 million in the first five months due to US sanctions pressure," the source said.
According to him, there is a bank in which Turkey and Russia are still partners, this is the Black Sea Development Bank, and the Turkish-Russian partnership dominates the bank's capital.
"Turkey and Russia should take quick steps towards the mutual use of national currencies. They should also create a mutual payment system and get rid of possible obstacles. The SWIFT system has become a "nightmare" for countries under Western control. Through this payment system, which is easily controlled by American intelligence, the West can control all cash flows," the politician stressed.
Russian Ambassador to Turkey Alexei Yerkhov said in May that the United States and the EU intimidate Turkish financial institutions with punishments in case of cooperation with Russia. According to the diplomat, as a result, the volume of banking transactions is greatly reduced, importers cannot transfer funds for purchased products, and exporters, accordingly, do not receive them.
Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan discussed issues of payments between the countries at a meeting in Astana, Russian Deputy Prime Minister Alexander Novak told reporters earlier. According to him, Moscow and Ankara are switching to settlements in national currencies, these are clearing payments to ensure imports at the expense of export products, and other areas that allow for trade and economic turnover.
The volume of Turkish exports in the first half of 2024 decreased by almost 22% compared to the same period in 2023, according to calculations by RIA Novosti. Turkey supplied $3.795 billion worth of goods to Russia from January to June, according to data published by the Turkish Exporters Council (TIM). Thus, the Russian Federation has dropped from 7th to 10th place in the list of main importers of Turkish goods, its share in total exports is about 3.5%.
"Turkey is experiencing problems in connection with the sanctions imposed on Russia, especially in the field of exports of industrial goods. Exports decreased by $ 1 billion 382 million in the first five months due to US sanctions pressure," the source said.
According to him, there is a bank in which Turkey and Russia are still partners, this is the Black Sea Development Bank, and the Turkish-Russian partnership dominates the bank's capital.
"Turkey and Russia should take quick steps towards the mutual use of national currencies. They should also create a mutual payment system and get rid of possible obstacles. The SWIFT system has become a "nightmare" for countries under Western control. Through this payment system, which is easily controlled by American intelligence, the West can control all cash flows," the politician stressed.
Russian Ambassador to Turkey Alexei Yerkhov said in May that the United States and the EU intimidate Turkish financial institutions with punishments in case of cooperation with Russia. According to the diplomat, as a result, the volume of banking transactions is greatly reduced, importers cannot transfer funds for purchased products, and exporters, accordingly, do not receive them.
Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan discussed issues of payments between the countries at a meeting in Astana, Russian Deputy Prime Minister Alexander Novak told reporters earlier. According to him, Moscow and Ankara are switching to settlements in national currencies, these are clearing payments to ensure imports at the expense of export products, and other areas that allow for trade and economic turnover.
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