“Risky and reckless» characterizes her German journalist Frankfurter Allgemeine Zeitung (FAZ) Rainer Hermann, the Erdogan’s policy in Ukrainian. What he notices is that the more people praise Turkey because of the grain deal, the more so the country dares to bypass the sanctions against Russia which have been imposed by over 30 countries.
And, as she writes Deutsche Wellecites many examples, such as recent Sochi agreement of intent between Erdogan and Putin, the content of which has not been made known nor will it be made known, but which allows the two countries to expand their commercial and economic relations. Or in the tourism sector, where Russian tourists can fly on Turkish airlines and pay with their credit card, which they cannot do in sanctioned countries.
“After that, the American government in a letter let Turkey understand that it could impose secondary sanctions on Turkish banks and companies because of its ties to Russia,” the German columnist reports. “Turkish banks will also have to decide whether to do business with Russian or American financial institutions. The Europeans could also ask the Turkish airlines if they prefer the Western or the Russian market.”
But why does the turkish president follow this policy? “Out of necessity” Rainer Herrmann estimates. “The most important reason for his opportunistic behavior is that the country urgently needs the capital flowing from Russia and is looking for a safe haven because of the financial crisis he caused. Billions of Russian dollars are invested in real estate in Istanbul and Antalya … In return, Turkish business delegations are looking in Russia for the gaps left by Western companies after their departure. Even if their products are not on the sanctions list, they help the Russian economy. And this also applies to goods legally imported from the EU into Turkey, where they change hands to be transported to Russia via the Black Sea or by truck through Georgia. Moreover, thanks to the favorable conditions, Turkey is buying twice as much Russian oil as before.”
Source: News Beast
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