US Sanctions Threat Hinders Russia-Turkey Trade

The Russian president has previously said that Turkiye has been Moscow's most reliable energy partner since the start of the Ukraine war

The US has put Russian-Turkish trade on ice by threatening to impose sanctions on financial firms doing business with Moscow, thereby disrupting or slowing down money transfers for Turkish oil imports and exports, Reuters reported on 19 February.

Citing seven unnamed sources familiar with the matter, Reuters said that US threats made in December did not specifically target the energy sector but have made payments for Russian crude by Turkiye and Russian payments for broader Turkish exports more difficult...

Reuters stated the US hopes to reduce Russia’s trade revenues and hinder its war effort in Ukraine, but without affecting Russian oil flow into the global market to prevent a jump in US gasoline prices.

Turkiye is not alone in facing the problem of US sanctions when wanting to do business with Russia; the UAE, China, and India are also facing complications, according to oil traders.

🔗SOURCE ➡️ The Cradle

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As the disobedience continued, the US took the route of sanctioning the individual banks that did not comply in these countries, forcing them to have a sort of foot in both camps, one in the BRICs/Mir/CHIPs axis, another in the Western/SWIFT axis.

3/11/22 — Turkey Won't Sanction Russia, Despite NATO Pressure

4/19/22 - Justices Rule Turkish Bank Must Face US Prosecution for Sanctions Violation

....While Turkey has been towing a middle line, like the Gulf states and India, they have also been teeter-tottering a bit between both axes, a bit like India.

During the general turbulent economic environment for the entire world economy, Turkey has been grappling with a rapidly depreciating currency, and a crumbling economy...

To return to the line of the US targeting Turkish banks and private entities of other countries who stayed connected to Mir, Reuters described in September of 2022 described how this specifically propelled India to integrate the Mir system. Blowback, blowback, blowback.

9/23/22 — Reuters: Russia Hides Details, but Says Mir Bank Cards Still Work in Turkey

9/19/22 — Two Turkish Banks Suspend Russian Mir Payments After U.S. Sanctions

2/6/23 — US Sharpens Focus on Russia Sanctions Evasion, Warning Turkish Banks, Businesses

The US took the same route with other non-compliant countries, forcing countries to essentially have a foot in and out of both pools, economically impacting them negatively.

... the blowback of this was wreaking diplomatic and economic ties between the US and the countries we were attempting to impose sovereignty over.

March 2022 Flashback: US Hegemony Threatened As Saudis, UAE, India Ignore Threats of Sanctions, Turn to Russia/China

... my last publication’s thesis that the US' unilateral sanctions are expediting the fall of the dollar as a reserve currency, and critically damaging to not just the countries sanctioned by the US, but critically damaging to America itself as well.

Will threats of sanctions on the neutral gulf states and India, as we’ve already seen take place, be productive, or counter productive to America’s own security and stability?

Just as Biden threatened India with sanctions, and it seemed to only push India into Russia’s arms, threatening the gulf states with sanctions will likely do the same, encouraging them to strengthen ties with China and Russia...

...Saudi Arabia, the UAE, and India appear to be distancing themselves from Western Powers as they explore expanding their relations with Russia and China...

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