Turkey's exports to Russia in February fell 33% year on year to $670 million, trade ministry data showed on Saturday.
Russian-flagged bulk carrier SV Nikolay is unloaded at Izmir port in Turkey June 25, 2022. Reuters/Yoruk Isik
Turkey's exports to Russia in February fell 33% year on year to $670 million, trade ministry data showed on Saturday.
That was down from $1.1 billion in February 2023.
Imports from Russia fell 36.65% to $1.3 billion from $2 billion a year earlier.
A U.S. threat to impose sanctions on financial firms doing business with Russia has chilled Turkish-Russian trade, disrupting or slowing some payments for both imported oil and Turkish exports, Reuters reported this week.
Reporting by Huseyin Hayatsever; editing by Jason Neely
Five years ago, the West risked a full-blown diplomatic crisis with NATO ally Turkey when 10 ambassadors called for the release of a man they saw as a political prisoner, prompting an angry President Tayyip Erdogan to order their expulsion.
Just thirty days ago, the shekel was riding high. Now it's tumbling, and fast.
NATO is adjusting to a shifting security landscape and the United States is not seeking to leave the alliance, Turkish Defence Minister Yasar Guler told Reuters ahead of a NATO summit in Ankara next week.
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