Turkey dismisses US warning over Russia deals
The United States warned Turkey’s largest business group of possible sanctions risks this week if its companies do business with Russian entities and individuals targeted by Washington over Moscow’s war in Ukraine.
US Deputy Treasury Secretary Wally Adeyemo sent the letter to the TUSIAD business association, which has some 45,000 members.
Turkey’s Finance Minister Nureddin Nebati called any concerns stemming from it “meaningless” on Friday.
NATO member Ankara opposes Western sanctions on Moscow and has ramped up trade and tourism with Russia even as it opposes the invasion.
Some Turkish firms have purchased or sought to buy Russian assets from Western partners pulling back due to the sanctions, while others maintain large assets in the country.
Belgian brewer Anheuser-Busch InBev said in April it was in active talks to sell its non-controlling stake in its Russian joint venture AB InBev Efes to Turkish partner Anadolu Efes.
Turkey’s Koc Holding’s household appliances giant Arcelik signed a share purchase agreement with US-based Whirlpool for all shares in the latter’s Russian units Indesit International JSC and Whirlpool RUS LLC for $233 million.
Turkey’s Flo Shoes reported in May that it was in talks to buy more than 100 stores owned by fitness brand Reebok in Russia.
Glass and glass products producer Sisecam holds four Russian subsidiaries with 31.88 billion roubles ($530.4 million) in assets.
And there are several more deals and holdings. [Reuters]
