Turkish Foreign Minister Mevlut Cavusoglu said on Saturday that he welcomes sanctioned Russian oligarchs to his country as tourists and investors, as long as all business transactions are kept. within the scope of international law.
Turkey has been in the spotlight this week with its coastal waters seeing the arrival of two multimillion-dollar superyachts, believed to belong to Russian tycoon Roman Abramovich – literally circumventing Western sanctions.
Solaris, a superyacht affiliated with Russian financier Roman Abramovich, docks at a marina in Bodrum, southwestern Turkey on March 21, 2022.
Iha | via Reuters
With each vehicle worth around $600 million or more, Abramovich is said to be closing $1.2 billion in the non-EU country as it seeks to move his fortune out of reach of the US, UK and EU governments. aimed at Russia’s wealthy elite. Turkey says this is a legal move – as long as the yachts remain outside the territorial waters of the sanctioning countries, extending 12 nautical miles from the coastline.
Speaking to CNBC’s Hadley Gamble at the Doha Forum in Qatar, Turkish Foreign Minister Mevlut Cavusoglu said that any activity must be legal.
He said: “We implement sanctions that have been approved by the United Nations, so if any Russian citizen wants to visit Turkey, they can visit Turkey. Russia will visit Turkey, that’s no problem.”
When asked if this would extend to investment and business, Cavusoglu replied: “So if you mean these financiers can do any business in the country. Turkey, then of course if it’s legal and not against international law, I’ll look into it.” speak.
“If it’s against international law then that’s a different story,” he added.
Mediator
Turkey has strongly criticized Russia’s gratuitous invasion of Ukraine but opposed the sanctions imposed by its NATO allies in principle. Given the diplomatic and economic relationship with Russia, especially in relation to Russian gas imports, and the sometimes volatile relationship with its Western partners, that is unlikely to change any time soon.
Turkey has positioned itself as a neutral and valuable mediator in the negotiations between Russia and Ukraine, with Dutch Prime Minister Mark Rutte recently praising the country for “doing everything it can.” can do.” That has made it a destination of choice for Russians looking to preserve wealth and invest in an increasingly hospitable global market.
Cavusoglu was present when the foreign ministers of Russia and Ukraine, Sergei Lavrov and Dmytro Kuleba, met in the Turkish resort town of Antalya in early March. Those discussions yielded no clear results.
Mr. Cavusoglu also recently traveled to both Russia and Ukraine for talks with both Lavrov and Kuleba, telling reporters that there was “agreement of views on both sides on important topics.”
Turkey has built close ties with Russia over the years in areas such as defence, energy and trade, and it is also dependent on tourism from the country. But Ankara also sold drones to Kyiv, angering Moscow.
Russian missile defense system
—Karen Gilchrist of CNBC contributed to this article.
