Reason why Turkish companies suspend trade with Russia published

17:35 - 27.03.2024

March 27, Fineko/ "The problem with payments from Russia to Türkiye within the framework of trade has not been resolved. The problem that arose at the beginning of the year with payments from Russia to Türkiye has not yet been resolved."

ABC.AZ reports that Dünya informed about this with reference to representatives of the local market.

Turkish exporters are unable to raise money for goods and close export accounts because local banks refuse payments. Current legislation stipulates that export earnings must enter the country within 180 days, but the Commerce Department can extend this period to 24 months.

The companies claim that against this background, trade with Russia has actually stopped. In the long run, this will lead to a decrease in production capacity, which will be a reaction to slowdown in production, as well as affect employment.