Russian embargo hit Turkish companies: We cannot receive payment!

Russian embargo hit Turkish companies: We cannot receive payment!

Izmir Industrialists’ and Businessmen’s Association (IZSIAD) Chairman Hüseyin Cengiz said that the Ukrainian war and the sanctions of the USA and EU countries on Russia caused a collection crisis in Turkish companies exporting to Russia. Underlining that Turkish companies have not received payments in any currency since the beginning of January, İZSİAD President Cengiz said, “The Russian embargo has started to hit Turkish companies.”

Emphasizing that companies whose payments have been rejected cannot receive clear information from banks, and that there is a risk of a complete halt in exports to Russia if the situation continues, İZSİAD President Cengiz said, “It is inevitable that Russia will direct its demands to other countries and that companies experiencing collection difficulties will experience financial difficulties and even be on the verge of bankruptcy. “The problem is growing day by day,” he said.

“MINISTRY OF TRADE SHOULD BE MORE ACTIVE”

Reminding that the Ministry of Commerce is trying to collect the demands of companies that cannot collect, Cengiz said, “However, the difficulties faced by companies continue to increase. “As İZSİAD, we expect the Ministry of Commerce to develop a solution urgently in order to end the grievances experienced by Turkish producers as soon as possible,” he said.



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