Turkey’s sought-after refuge is becoming a safe haven for Russian money

Turkish Foreign Minister Cavusoglu recently said Russian businessmen, including oligarchs, are welcome if they follow the rules. But according to anti-corruption groups, Turkey should beware of ‘dirty money’. “Since the war, we have seen new centers for Russian money emerge: Israel, Dubai and Turkey are certainly one of them,” said Oya Ozarslan of Transparency International. “Dirty money has been banished from Western countries. Now it’s coming here.”

Turkey risks sanctions

Turkey can make good use of foreign money, now that the country is in serious economic trouble. But Ozerslan warns of long-term negative consequences. “If you let dirty money in, you can’t expect legitimate investors to come in. Nobody wants to invest in dirty money.” Moreover, Turkey risks the reaction of Western countries. “Secondary sanctions can be imposed on countries like Turkey because they do not support Western sanctions.”

It is not known how much Russian money is currently flowing into Turkey. “There is little financial transparency in Turkey, so we don’t have numbers. I expect the Russians to use Turkish intermediaries to buy. Turkey imports corruption, and it’s not doing very well when it comes to corruption.”

Payment in installments

Real estate agent Murat Sarikaya now has Russian-speaking employees to communicate with Russian buyers. He has just sold a $ 1.5 million luxury apartment, but is having trouble paying. “Since I can’t get all the money here at once, they pay in installments. That’s what we’re encountering now.”

The Ukrainian sailing team failed to stop Abramovich’s yacht, but one day disappeared from the port of Bodrum. It soon became apparent that the port was being run by a British company, which had to enforce British sanctions.

Solaris has been a few kilometers away for some time, in another port, in the city of Yalikavak.

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