Turkey has become an attractive destination for Russian investors seeking a safe haven from Western sanctions.
Russians will establish more than 1,300 companies in Turkey in 2022, which is 670% more than a year ago. Bloomberg wrote this with reference to a report by the Turkish think tank The Economic Policy Research Foundation.
The influx of new companies with Russian partners highlights Turkey’s growing appeal as a destination for Russian money after the war in Ukraine. Companies with Iranian partners came second.
It is noted that this trend is also reflected in the Turkish housing market, where Russians will make up almost a quarter of all foreign property buyers in 2022.
Turkish President Recep Tayyip Erdogan has refrained from participating in Western sanctions against Russia over its invasion of Ukraine, making Turkey an attractive destination for investors seeking refuge from the sanctions, including oligarchs who trying to avoid potential asset seizures. . The EU and the US have criticized growing ties between Russia and Turkey, noting that Turkey’s increased exports to Russia allow Moscow to circumvent sanctions.
The media previously wrote that Turkey received $ 28 billion of unknown origin
It is also reported that Turkey refuses the export of goods for the military needs of the Russian Federation.
On two sides. The role of Turkey in the war between Ukraine and Russia
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.