“US interference in Türkiye’s trade with Russia is putting our economy in a bottleneck!”

“US interference in Türkiye’s trade with Russia is putting our economy in a bottleneck!”

The AK Party government does not stand up for exporters, industrialists, banks, tourism, fruit and vegetable producers who face threats and pressure from the US authorities. Türkiye will not carry a government that bows down to threats against our relations with Russia, China and Iran, our most important partners in economy and security. No power can prevent Türkiye’s positioning in the Rising Asian Civilization.


  • Turkish companies engaged in direct or indirect trade with Russia are threatened with blacklisting by the US.
  • The transfer of foreign exchange from Russia to Turkey is under US pressure. While Türkiye is suffering from a shortage of foreign exchange, banks are refusing foreign exchange sent from Russia to our companies.
  • Türkiye’s economy is in a deadlock due to the obstruction of trade with Russia, our biggest trade partner.
  • US diplomats who pressure and threaten our companies should be declared persona non grata and deported to their countries.

Today (Thursday, February 29, 2024) at 13.00, at the Istanbul Provincial Headquarters, Doğu Perinçek, Vatan Party Chairman, held a press conference on the threats and pressures on Türkiye’s trade with Russia. In summary, Perinçek stated the following:

Pressure and threats on exporters and industrialists

Serious pressure is being exerted on the business community to stop trade between Russia and Türkiye. Turkish companies engaged in direct or indirect trade are threatened with being blacklisted by the US.

For three days now, Aydınlık and Ulusal Kanal have been publishing all the evidence of those who made the threat. The AK Party administration’s alignment with the US has given the United States such audacity that US diplomats are the ones directly threatening our people. They know no bounds in recklessness and arrogance.

The sanctions bullying of non-food trade with Russia is severely damaging our exports and the Turkish economy.

Türkiye exports not only unprocessed products and fruit and vegetables to our neighbor Russia. Our machinery sector exports reached 2.5 billion dollars. Russia was not even in the top 10 in our machinery sector exports until recently, it is now in second place. However, our exports are falling rapidly due to the US sanctions pressure.

Companies that export and import have become unable to find foreign exchange. Since most of Türkiye’s exports are based on imports, the need for foreign exchange for the supply of raw materials and materials has put our industrialists in a bottleneck. If trade with Russia is not paved the way, the foreign exchange shortage of both banks and private companies will worsen.

Pressure and threats on banks

The AK Party government has instructed banks not to accept receivables from trade with Russia. Sending money to Russia is also under threat. Banks are also very uncomfortable with this situation. As a result of the halt in trade with Russia, the shortage of foreign exchange has increased and banks are struggling to find foreign exchange.

Pressure and threats on the tourism professionals

In 2023, Russia has the largest share in the total number of tourists coming to Türkiye. Last year, 56 million 693 thousand tourists visited Türkiye. Russia, our Black Sea neighbor, ranked first with 6 million 313 thousand tourists.

The tourism season is approaching. Turkish companies cannot even send their booth fees to participate in tourism fairs organized in Moscow. Russian tourists are prevented from using credit cards and paying in foreign exchange.

Pressure and threats on fruit and vegetable producers

The problem in money transfers with Russia has also reduced fresh fruit and vegetable exports to Russia. This was also reflected on prices in production regions.

A grave threat to our energy security

As can be seen in the table below, more than half of our natural gas imports are from Russia.

In the table showing the share of countries in Türkiye’s fuel and natural gas imports last November, Russia is again at the top.

As is well known, the Russian government provides Türkiye with privileged price concessions and guarantees in energy sales. Moreover, Türkiye plays the role of a bridge for Russia’s energy exports to the world and very important investment projects are on the agenda.

The AK Party government’s submission to US pressure undermines the confidence of Türkiye’s neighbors, especially Russia, from whom we depend on for our energy security.

US intervention puts Türkiye’s economy in a bottleneck

Our exporters, industrialists, tourism professionals, fruit and vegetable producers, banks, hoteliers and tradesmen who depend on tourism are screaming.

Russia is not just another country in Türkiye’s trade with the world, it is our first trade partner.

 1 Russian Federation56 Billion 523 Million Dollars
 2 Germany49 Billion 775 Million Dollars
 3People’s Republic of China48 Billion 566 Million Dollars

If the AK Party government continues to cave in to the US interference in trade with Russia, the country’s economy will be severely damaged. Our energy security will be jeopardized, production will suffer. Our foreign trade deficit will grow. The price of the dollar and the euro will increase. Prices in the domestic market will become unbridled. Inflation will skyrocket. The tremors will affect the whole economy.

Fake news campaign begins

The US started a fake news campaign to cover up its threats to strangle Türkiye’s economy. The Atlanticist press ran headlines like “Russia is closing the valves”. However, Russia cannot survive if it closes the crude oil valves to the world. The TASS Agency writes the truth of the matter.  As it has done before, Russia is halting gasoline exports for six months to regulate its domestic market. The main product which Türkiye imports from Russia is crude oil, not gasoline. Crude oil will continue to flow through the valves.

US diplomats who threaten our companies should be deported

US diplomats who pressure and threaten our companies should be declared persona non grata and deported to their countries.

No need to fear the US anymore

No one needs to fear the US anymore.

The Palestinian people, led by Hamas, forced the US to ask for a ceasefire.

The poor Yemeni people have narrowed the Red Sea to the US and other Atlantic countries.

European farmers are dusting off the Americanized European governments.

The Afghan people have shaken the dust off the US.

In the past the US Marines used to intervene in all these uprisings. Today the US wants a ceasefire.

A courageous government today would easily take decisions in line with Türkiye’s interests without giving in to any US sanctions. It would also implement the decisions it takes.

What is the US selling us that we cannot find in the world? The total trade volume of Türkiye with the US is 30 billion dollars. This is also a forced exchange. We buy perhaps the most expensive natural gas in the world from the US as liquefied natural gas. This is to equalize our trade with the US.

The US can also intervene in our trade in dollars by seizing them in New York banks. How Russia trades with the world today, we can trade in the same way.

In the end, we should no longer be afraid of the US, but the US should be afraid of us.   

United World International

Independent analytical center where political scientists and experts in international relations from various countries exchange their opinions and views.

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May 2024