Russia decree from the US: Turkish banks may also be affected

The decree, which US President Biden will not sign, will impose sanctions on financial institutions that violate or participate in the violation of Russia sanctions. Companies that process Russian products will also be sanctioned. The decision is also expected to affect banks in Turkey.

US Treasury Secretary Janet Yellen announced that President Joe Biden will sign a decree imposing sanctions on financial institutions that contribute to the circumvention of sanctions against Russia.

The new sanctions target banks that helped finance the Russian defense industry’s production of weapons equipment.

US Treasury Secretary Janet Yellen announced that President Joe Biden will sign a decree imposing sanctions on financial institutions that contribute to the circumvention of sanctions against Russia.

The new sanctions are aimed at banks that help finance materials needed for weapons production in the Russian defense industry.

According to DW Turkish, US Deputy Treasury Secretary Wally Adeyemo told CNBC television that the new decree will strengthen sanctions against Russia by increasing pressure on banks in countries such as China, Turkey, and the United Arab Emirates (UAE) that intentionally or unintentionally help Russia circumvent sanctions.

Adeyemo pointed out that financial institutions must ensure that their actions are not used by Russian front companies to circumvent sanctions.

It was noted that the decree was prepared with the knowledge of US partners and allies.

Cover Photo: AA

Source: BirGün

Leave a Reply

Your email address will not be published. Required fields are marked *