US officials have warned the Turkish government of a “real risk” of imposing restrictions on Turkish companies helping Russia to circumvent sanctions.
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The Wall Street Journal, citing Western officials, writes that Washington is very concerned about how Turkey is helping Russia to circumvent sanctions. In particular, according to officials, Western electronics are delivered to the Russian Federation through Turkey, and Turkish ports continue to receive Russian ships under sanctions.
We are in constant dialogue with the Turkish government on these issues. We sincerely hope that we will be able to avoid a scenario in which the Turkish company will be subject to sanctions, – said one of the sources of the publication.
Of particular concern to US officials is the “shadow” fleet operating through Turkey, helping Russia to supply oil to Asian countries, while bypassing the price ceiling set by the G7 countries.
According to the WSJ, one of the largest operators of the “shadow” fleet is the Turkish company Beks Ship Management, founded more than ten years ago. As of 2021, her fleet consisted of six ships. Since that time, the company began to develop rapidly, and by August 2023, its fleet already consisted of 41 ships with a total value of $782 million. The total cost of the company’s fleet has increased approximately tenfold in two and a half years.
Beks Ship Management spokesman Cemil Ersoz told reporters that the ships were bought through banks in France, China, Japan, Taiwan and Australia. He stated that the funding did not come from Russia.
WSJ notes that Beks Ship Management is not the only company in the Russian “shadow” fleet. According to the publication, hundreds of ships around the world, owned by firms from Greece, India, the United Arab Emirates and Turkey, help Muscovites circumvent sanctions. At the same time, companies themselves are moving away from secondary sanctions by operating outside the usual industry standards.
Recall that in December 2022, the EU oil embargo came into force, prohibiting EU countries from purchasing Russian oil supplied by sea. At the same time, a price ceiling was introduced, among other things, prohibiting Western insurance companies from insuring ships carrying Russian oil at a price higher than the established ceiling. Given all these restrictions, Russia began to form a “shadow” fleet.
Source: Racurs
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.