Turkish banks partially resume settlements with Russia

The Turkish banks have partially resumed settlements with Russia.

"The Turkish banks have resumed settlements with Russia for agricultural products, as well as the payments related to the tourism sector, medicine and education," Director General of the Russian-Turkish Business Council at the Russian Chamber of Commerce and Industry Alexey Yegarmin told Izvestia.

“Besides the abovementioned sectors, there are also textiles and the pharmaceutical industry. The list is expanded by humanitarian and consumer goods provided by Türkiye itself. The situation in banks is different. For example, there are still difficulties with Golden Global. Ziraat and VakifBank accept payments more easily, but only for humanitarian goods,” he added.

Vice-president of Opora Rossii, one of Russia's biggest association of small and medium business owners, Nikolai Dunaev confirmed that settlements with Türkiye are made in national currencies and so far only for goods from the “green list” (it includes food, pharmaceuticals and textiles). At the same time, the representative of the business association emphasised that it is difficult to make settlements for other categories, each transaction faces difficulties.