Turkey Will Lose More Than It Gains: Putin on Trade with the West
Russian President Vladimir Putin recently emphasized that Turkey might face more losses than gains if it links Western loans and investments to restrictions on trade with Russia. During a meeting with leaders from international news agencies, Putin warned that the economic benefits Turkey seeks from Western financial institutions could be outweighed by the detrimental impact on its trade relations with Russia. He made these remarks in response to a question about Turkey's efforts to secure loans and investments from the West. Turkey has been actively pursuing financial support from Western institutions, with Finance Minister Mehmet Şimşek at the forefront of these efforts. In April, Şimşek announced a significant financial cooperation agreement with the World Bank, promising Turkey an additional $18 billion in funding over the first three years. This collaboration aims to make Turkey the third-largest recipient of concessional World Bank loans globally, bringing ...
