Erdogan wants to increase trade volume with Russia

(Patria) - Turkish President Recep Tayyip Erdogan yesterday expressed a desire to expand trade volume between Turkey and Russia, during a phone call with his Russian counterpart Vladimir Putin.

"President Erdogan said he aims to increase cooperation between Turkey and Russia in many areas, including expanding trade volume," his office said.

Although it quickly condemned Russia's offensive in Ukraine, Turkey has opted for neutrality in the conflict between the two countries and has not joined Western sanctions against Moscow.

Erdogan then justified his policy by Turkey's heavy reliance on Russian oil and gas.

Five Turkish companies were targeted by US sanctions in September 2023 for providing products and services to Russian companies in the defense sector.

In a letter addressed to Turkish business circles, in August 2022, an unnamed US Treasury Department official warned Turkish companies about the "increased risk of Russia's attempts to exploit" Turkey to avoid sanctions.