Many countries have hit Russia with sanctions in the wake of the invasion of Ukraine. Turkey has bragged about a surge in trade with Russia.
Turkey's transport minister took to social media to tout the trade surge. The monthly average number of vehicles traded with Russia increased by over 50% in the last month.
—Adil Karaismailoğlu (@akaraismailoglu) August 12, 2022
The number of vehicles traded between Turkey and Russia via cargo ships increased from May to July. New shipping lines between the two countries were blamed for the surge.
According to the Turkish Statistical Institute, Turkish exports to Russia have doubled in the last six years. That's an eight-year high.
Ankara didn't close its airspace to Russia or sanction it for its invasion of Ukraine. Five of Turkey's banks have begun to use Russia's Mir payments system, raising fears that it could be used to skirt sanctions.
The presidents of Turkey and Russia met in the same city just three weeks after they met in Iran.
The Financial Times reported on August 7 that some Western officials are worried about Turkey's relationship with Russia as it is a member of the NATO alliance. The media outlet said there had been no official talks about it.
Ankara has a lot at stake when it comes to its economic relationship with Russia, which is one of its top trading partners. 7 million Russian tourists are expected to visit Turkey in the year 2019.