Turkish Industry and Business Association, TÜSIAD, has received a letter from the Deputy Secretary of the Treasury Wally Adeyemo, which warned that Turkish companies that have business relations with sanctioned Russian entities and individuals will also be at risk of sanctions.

Russia has been imposed sanctions by the US and EU countries after its invasion of Ukraine on February 24 this year. Therefore, Russia is hard to sell its steel products to alternative markets, and is trying to sell them to Turkey at extremely low prices.

The US is worried that Russia’s government and businesses are evading Western countries’ financial and trading sanctions by using Turkey.