Turkey sets an historical record in exports to Russia in August
Turkey set an all-time record in terms of monthly export of goods to Russia in August, according to data provided by the Turkish Exporters Assembly (TIM,) Turkish state news agency Anadolu said on Friday.
"Exports amounted to $738.527 million in one month, an 87.2% increase compared with the same period last year," TIM said.
Russia's share in Turkey's exports was 3.5 percent, buying mainly the chemical substances and products.
Turkey’s total exports in the period rose by 13.1% to $21.3 billion.
Despite the disruptions in the global supply chain due to the war in Ukraine and the negative impact of the countries' trade relations with Russia, Turkey continues to effectively maintain its trade with Russia with its balance strategy and effective foreign policy, Anadolu said.
Turkey did not adopt the measures aimed at punishing Putin for the war against Ukraine as President Tayyip Erdogan said Western countries follow "provocative" policies towards Russia.
Several western officials drew attention to the idea that Ankara sees the exodus of western companies from Russia as an opportunity for Turkish businesses to step in — something that some Turkish officials and business figures have voiced in the past, Financial Times reported last month.
“At the time when the European Community is scaling down its ties with Russia in response to its aggression against Ukraine, it is not really appropriate to increase links or engagement with Moscow,” said Peter Stano, spokesman for the EU’s foreign and diplomatic arm.