More Turkish entities blacklisted for breaking Russia related violations

The US announced sanctions on individuals and companies in Turkey, China and the UAE it accused of abetting Russia’s war against Ukraine, reports Arab News, based on OFAC circular titled Russia-related Designations, Updates and Removal; Counter Terrorism Designation Update; Issuance of Russia-related General Licenses.

 

The United States announced sanctions Thursday on individuals and companies it accused of abetting Russia’s war against Ukraine, targeting entities in Turkey, China and the United Arab Emirates in a bid to disrupt Moscow’s supply chains.

 

This comes as Russia has offshored the production of technology, equipment and other goods it needs for its military, relying on suppliers in other countries to acquire these items, said the US Treasury Department.

 

“Russia is dependent on willing third-country individuals and entities to resupply its military and perpetuate its heinous war against Ukraine and we will not hesitate in holding them accountable,” said Treasury Secretary Janet Yellen in a statement.

 

PATurkey has archived three occasions in the recent past, when OFAC sanctioned other Turkish entities.

 

The latest sanctions involve 130 new targets. Among them are Turkish national Berk Turken for his role in a procurement network with ties to Russian intelligence services, alongside a UAE-based network for alleged involvement in Russian illicit finance, the department said.

 

Apart from the Treasury, the US State Department is also issuing nearly 100 sanctions targeting areas like Russia’s future energy production and revenue, metals and mining sector as well as defense procurement.

 

All property and interests in property of sanctioned parties in the US are blocked and must be reported to US authorities, with restrictions on transactions involving sanctioned people as well.

 

 

Financial Times added:

 

 

The sanctions against several Turkish groups were mainly focused on suppliers of technology and electronics to Russia, which have been flowing either directly or through other intermediaries, according to several diplomatic sources.

 

 

The new US restrictions come at a delicate time for US-Turkey relations, with Turkey’s president Recep Tayyip Erdoğan repeatedly hitting out at Israel and its allies in recent days. Washington is also pushing for Ankara to approve Sweden’s accession to the Nato military alliance, a decision that is sitting with Turkey’s parliament.

 

A Turkish expert whom PA Turkey consulted and who wished to remain anonymous, commented that she can’t find evidence of Erdogan and the state blessing such violations.  It seems the sanctioned entities are profiteers who are lured to higher profits.  Nevertheless, in addition to delaying the F-16 sale to Turkey, Washington has gained another lever to push the Grand Assembly to ratify Swedish accession speedily.

 

 

 

Published By: Atilla Yeşilada

GlobalSource Partners’ Turkey Country Analyst Atilla Yesilada is the country’s leading political analyst and commentator. He is known throughout the finance and political science world for his thorough and outspoken coverage of Turkey’s political and financial developments. In addition to his extensive writing schedule, he is often called upon to provide his political expertise on major radio and television channels. Based in Istanbul, Atilla is co-founder of the information platform Istanbul Analytics and is one of GlobalSource’s local partners in Turkey. In addition to his consulting work and speaking engagements throughout the US, Europe and the Middle East, he writes regular columns for Turkey’s leading financial websites VATAN and www.paraanaliz.com and has contributed to the financial daily Referans and the liberal daily Radikal.