The British Financial Times newspaper devoted its editorial today to Turkey-Russia relations. The newspaper commented that Erdogan wanted to attract Russian capital to Turkey before the elections he wanted to win, but Ankara’s close cooperation with Moscow could trigger the US’s retaliation.
The editorial of the Financial Times begins with the determination that Russia’s invasion of Ukraine created an opportunity for President Recep Tayyip Erdoğan, enabling Erdoğan as an important statesman to mediate between the parties. The newspaper states that Erdogan deserves praise for his role in the grain corridor agreement between Ukraine and Russia.
The editorial continues:
“However, Erdogan is careful to maintain important economic ties with Moscow. His four-hour, seemingly cordial meeting with Russian President Vladimir Putin on Friday worries Western capitals. Erdogan is deepening his ties with Moscow. Moreover, his NATO allies are on the contrary. while the Kremlin is looking for ways to bypass Western sanctions.
Financial Times reminds that Turkey, USA and EU did not participate in the sanctions imposed on Russia after the invasion of Ukraine, continued to buy oil and gas from Russia, and kept its airspace open to commercial Russian planes.
Saying, “It is not clear on which issues Erdogan and Putin have agreed on in Sochi,” the newspaper recalls two statements made after their meeting.
Russian Deputy Prime Minister Aleksandr Novak announced that an agreement was reached on partial transition to rubles in natural gas trade payments between Turkey and Russia.
President Erdoğan also confirmed that the ruble was agreed on natural gas payments; He said about Mir, the card system that makes it easier for Russian tourists to make payments in Turkey, “Currently, our five banks are working on it.”
According to the Financial Times, at a time when Visa and Mastercard are suspending their operations in Russia, Western countries are concerned about the Mir connection being used to neutralize sanctions.
“Although there is no evidence of this yet,” the newspaper says, while Erdogan has accepted Russian suggestions for deeper cooperation in banking and energy fields, which had been leaked by Ukrainian intelligence. Adding that this could help Moscow circumvent Western sanctions…
‘ERDOĞAN MAY BE TRUSTING THE CARDS IN HIS HAND TOO MUCH’
The editorial of the Financial Times, which states that President Erdogan wants to win the elections to be held in Turkey next year, and that the growth of Turkey’s debt and currency crisis is due to his mismanagement of the economy, concludes with the following lines:
“Despite being a NATO member, Turkey is not legally obliged to participate in the US and EU sanctions against Russia. However, deepening economic relations with Moscow will likely cause friction with the West. In particular, Turkey, Sweden and As we stand on Finland’s NATO membership…
“A senior official said that if Erdogan does what he signaled on Friday, Western countries could call for companies and banks to withdraw from Turkey. However, Turkey is a very important country, both geopolitically and for Western businesses.
“Europe is aware that Ankara may deport 3.7 million refugees from Syria and other countries to the continent. This possibility worries Europe.
“The United States had taken punitive measures against Turkey before. For example, when it bought the Russian air defense system… But the new American sanctions against Turkey pose a risk.
“If such a path is taken, the sanctions should be adjusted in such a way that Erdogan should not exploit the developments in public in his country. However, these sanctions may still cause harm to Turkey that will nullify the benefits of cooperation with Moscow.
“Erdogan should be careful with his geopolitical poker because he may be overconfident in his cards.”