Turkey Ready for Trade with Russia in National Currency
OREANDA-NEWS Turkey is preparing to move to payments in the national currency with its major trading partners, President Tayyip Erdogan said.
Such a statement by the Turkish leader was made against the background of the crisis in relations between Ankara and Washington. Donald Trump - US President - announced an increase in duties on imported steel and aluminum from Turkey. It caused another fall of the Turkish Lira to a historical minimum.
Turkey will switch trade to national currencies with Russia, China, Ukraine and Iran.
"If European countries also want to get rid of the shackles of the dollar, Ankara is ready to move with them to similar calculations," said the President.
Erdogan also said that Turkey does not accept the world economic war, and the countries are under pressure from the threat of sanctions. In addition, the head of state stressed the failure of the hostile policy towards Ankara. According to Erdogan, any actions against Turkey will be followed by retaliatory measures.
"Nothing will force Turkey to give up its goals in the economy, to give up the fight against terrorism. I declare this openly. Turkey will not change its policy on Syria and Iraq," added the head of state. He sure that US runs the risk of losing Turkey as its ally.
Russia is Turkey's second-largest trade partner after the European Union. Turkey ranks eighth among Russia's foreign trade partners.
The Turkish side has also expressed interest in building a transport and logistics hub in Russia with links to sea ports, airports, railways and highways. The ministers plan to discuss the issue in Istanbul in September, according to the Russian Ministry.