Turkey dismisses concerns over a US sanctions warning

ISTANBUL, Aug 26 (Reuters): The US Treasury's warning to Turkey that its companies risked being sanctioned if they did business with sanctioned Russians was "meaningless," Finance Minister Nureddin Nebati said on Friday, assuring businesspeople there was no need for concern.

NATO-member Turkey has sought to strike a balance between Moscow and Kyiv by criticising Russia's invasion and sending arms to Ukraine, while opposing the Western sanctions and continuing trade, tourism and investment with Russia.

Some Turkish firms have purchased or sought to buy Russian assets from Western partners pulling back, while others maintain large assets in the country. Ankara has repeated that Western sanctions will not be circumvented in Turkey.

The US Treasury warned both the country's largest business group TUSIAD and the finance ministry this month that Russian entities and individuals were attempting to use Turkey to bypass Western sanctions.

"The letter relayed to Turkish business groups creating concern among business circles is meaningless. We are pleased to see that the United States, our ally and trade partner, is inviting its businesses to invest in our economy," Nebati said in a tweet.

"Separately, we are determined to improve our economic and commercial relations with our neighbours especially in the areas of tourism and various sectors within a framework that is not subject to sanctions," he said.