Ankara seeks to replace Moscow's European exports and imports.
Turkey has increased exports to Russia by 46% compared to the same period last year. A sharp increase in exports raises concerns in the West about the deepening of cooperation between the countries, writes the Financial Times.
Turkish companies have occupied a niche vacated by the withdrawal of Western companies from the Russian market. The volume of Turkish exports to Russia during May-July amounted to $2.04 billion (+642 million dollars).
In July 2022, Turkey exported $730 million worth of goods to Russia, in July 2021 – $417 million. The $313 million increase was the largest among the countries that buy Turkish goods.
Moscow actively buys Turkish vegetables and fruits, other food products, textiles, electrical goods, furniture and chemicals. The share of Russia in the total volume of Turkish exports in July was 3.9% against 2.6% last year.
“EU members are increasingly concerned about Turkey's surge in trade with Russia and its desire to help Moscow replace European imports and exports. In this regard, some European capitals have asked Ankara for information about its trade relations with the Kremlin,” the newspaper reported with reference to sources.
One of them reported that the West is closely monitoring the growth of trade between the countries. , perceiving the current situation as an irritant.
Read also: “Turkey is defiant”: Bloomberg believes that the country is deliberately boasting about its trade boom with Russia
We remind you that before the negotiations in Sochi the Russian side offered to help the Turkish side bypass Western sanctions, in particular, using Turkish oil companies and free economic zones. In addition, Turkey agreed to pay for Russian gas in rubles.
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After the meeting between the presidents of the Russian Federation Vladimir Putin and Turkey Recep Erdogan strong> in Sochi, where the parties agreed to expand cooperation in the field of energy and trade, the West warned Ankara: if it helps the Russian Federation to circumvent sanctions, it will itself face restrictions.
