Sanctions Profile: Turkey

At a glance

The EU adopted a new sanctions regime in November 2019 in response to Turkey’s oil and gas drilling activities in the Eastern Mediterranean sea.

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News

OFAC reaches $4.1m settlement with Berkshire Hathaway Inc

OFAC has announced that Berkshire Hathaway, Inc, a Nebraska based multinational conglomerate holding company, has agreed to pay $4,144,651 (on behalf of itself and its Turkish subsidiary Iscar Kesici Takim Ticareti ve Imalati Limited Sirket) to settle civil liability for 144 violations of the Iranian Transactions and Sanctions Regulations (ITSR), which took place between 2012 and 2016. Despite changes to …

TurkeyTurkey IranIran

Saudi Arabia unofficially restricts imports of Turkish goods

It has been reported that the Saudi Arabian government has imposed a de facto ban on imports made in Turkey. 8 Turkish business organisations have issued a joint press statement saying that Saudi companies supplying goods from Turkish companies have also been asked to sign a letter of commitment not to import goods from Turkey. The reports follow recent calls …

TurkeyTurkey

US renews sanctions regime targeting Turkish Syria military operations

In October 2019, the US issued Executive Order 13894, which declared a national emergency in respect of the situation in Syria, and in particular Turkey’s military offensive in North East Syria. It authorised sanctions to be imposed on the basis that the operations undermined the US campaign to defeat ISIS, endangered civilians, threatened to undermine the peace, security, and stability …

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Canada suspends arms exports permits to Turkey

Canada’s Minister of Foreign Affairs, François-Philippe Champagne, has announced that certain licences authorising arms exports to Turkey have been suspended. The decision was reached in light of allegations that Canadian military-related technology is being used in the Nagorno-Karabakh conflict.

TurkeyTurkey

FinCEN Files – UAE Central Bank failed to prevent Iran sanctions violations

According to reports, the FinCEN Files show that between 2011 and 2012, the Central Bank of the UAE allowed Dubai-based Gunes General Trading to process transactions of $142m (£110m) designed to circumvent sanctions on Iran. A US correspondent bank had filed a suspicious activity report in 2012 alerting the UAE Central Bank to the transactions, but Gunes General Trading continued …

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Current Sanctions

EU

Consolidated

Council Regulation (EU) 2019/1890

Parent Regulation

Council Regulation (EU) 2019/1890

Amended by:

Council Implementing Regulation (EU) 2020/274

Consolidated

Council Decision (CFSP) 2019/1894

Parent Regulation

Council Decision (CFSP) 2019/1894

Amended by:

Council Decision (CFSP) 2020/275