Turkish banks began to close accounts of Russian companies and also tightened the conditions for individuals to open a card. Entrepreneurs doing business in Türkiye reported this to Vedomosti.
Some banks began closing business accounts and increased requirements for people who planned to get a card. At the beginning of the year, companies already complained about the suspension of payments between Russia and Turkey. Now the calculations remain frozen, they point out.
Turkish banks’ policies began to tighten after December 22, 2023. Then-US President Joe Biden introduced restrictions against international financial institutions that Washington says cooperate with the Russian defense industry.
By decree, the US Treasury can block the activities of foreign banks for broader reasons. It is enough for the financial institution to participate at least indirectly in a transaction to overcome Russia’s technological limitations or contribute to its productive activity.
- In the spring of 2022, international payment systems Visa and Mastercard left the Russian market, after which their cards stopped working abroad. Until September, cards from the Russian payment system Mir worked in Turkey, but after threats from the United States to impose sanctions for cooperating, local banks began to suspend their acceptance. Turkish bank cards are required for non-cash payments and transfers of funds from Russian accounts to them.
Author:
Karina Pardaeva
Source: RB
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