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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.
News
FATF report – concerns over Turkey’s implementation of UN sanctions
The Financial Action Taskforce (FATF) have released a report stating that it finds “fundamental shortcomings” in Turkey’s implementation of UN listings. Turkey will now be subject to special monitoring by the FATF. The report indicates that: Turkey has failed to develop a legal framework to implement UN sanctions targeting arms sales and ballistic missile activities in Iran (UNSC Resolution 2231); …
Turkey
US Senate committee approves Turkey sanctions bill for Syria offensive & Russian S-400 purchase
A US Senate committee has approved the “Promoting American National Security and Preventing the Resurgence of ISIS Act”, which would impose increased sanctions in response to the recent Turkish operations in Syria, which is said to have “destabilised the region” and “jeopardised the US strategy to defeat ISIS in Syria”. The measures include: Asset freezing measures / travel bans against …
EU sanctions regime in response to Turkey’s drilling in Eastern Mediterranean
Following the EU Council’s conclusions last month (see post) in relation to Turkey’s oil and gas drilling activities off the coast of Cyprus, the EU has announced a framework to impose targeted sanctions against Turkey. The sanctions will comprise an EU-wide travel ban for people, an asset freeze for entities, and a prohibition on making funds available to those designated. …