Turkish banks began to close accounts of Russian companies

Turkish banks have begun to close accounts of companies from the Russian Federation and have complicated procedures for individuals trying to open bank cards. According to banks, some financial institutions have already begun closing company accounts.

Turkish banks do not want to open accounts for Russian citizens

Banks have also tightened their requirements for citizens wishing to receive bank cards. These actions were the result of a tightening of banking policies initiated by Ankara after the US imposed sanctions on December 22, 2023 against international financial institutions considered by the American authorities to be employees of the defense-industrial complex of the aggressor country.

Already at the beginning of 2024, Russian business in Turkey began to face problems associated with the suspension of interstate payments in Turkish banks. At the moment, settlements through accounts affiliated with citizens of the occupying country remain frozen, representatives of Turkish banks confirmed.

These actions of Turkish banks could seriously affect the trade turnover between Russia and Turkey, creating additional difficulties for businesses and individuals from Russia engaged in illegal imports, gray imports of components for missiles, drones, as well as technologies that are under US sanctions.