US firms seek to bypass anti-Russia sanctions – media

 

American businesses reportedly want to resume trade with Moscow via Turkey

© Getty Images / Massimo Borchi/Atlantide Phototravel

US companies that have pulled out of Russia due to Western sanctions pressure are now looking for a way to trade secretly with Moscow via Turkey, the newspaper Yeni Safak reported on Tuesday.

The article highlighted that a number of firms want to circumvent the economic restrictions against Russia and are soliciting Turkish companies to conduct joint business for a “certain commission.” The number of such proposals from US companies has increased in recent months, people familiar with the matter told the daily.

American firms are reportedly seeking to import an array of Russian goods, including petrochemical products, mineral fuels, precious metals and stones, grains, iron and steel, fertilizers and inorganic chemicals, aquaculture and alcoholic beverages.

“US companies trying to benefit from Turkey’s warm relations with Russia also want to benefit from the effective logistics opportunities of Turkish companies in the region,” Yeni Safak wrote.

According to the report, many international companies headquartered in the US have mobilized their subsidiaries in Dubai free-trade zones for such business.

American businesses have suffered great losses by withdrawing from the large Russian market, the newspaper wrote, noting that Washington ran a $23.3 billion trade deficit with Moscow in 2021.

https://www.rt.com/business/561797-us-firms-bypass-russia-sanctions/