June 30, 2022

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Turkey is the new home of Russian princes’ super boats

Many millionaires have taken their wealth to public banks in Vladimir Putin’s ally.



Thanks France24 | It cannot be confiscated as it is in other European countries.

As the Solaris spacecraft, 140 meters long and one of the world’s largest private ships, approached the port, a small speedboat of five Ukrainians came in front of it.

The boat stopped between Solaris and the ship, and from there, flags in the air, and its crew began to shout.

“No war in Ukraine! Get out of here, Russian ship!” The scene took place in Bodrum, southern Turkey, and belonged to Roman Abramovich, a billionaire, Vladimir Putin’s ally and former Chelsea owner of the London football club.

His ship was not the only one to make landfall off the coast of Turkey this week: the solar eclipse was slightly smaller than the Solaris but very strange. Eclipse has an anti-aircraft defense system.

Together, the Abramovich fleet, valued at $ 1 billion, would have lost the oligarchy for the protection of Turkish ports. Both ships were from Europe, where several Russian princes close to the Kremlin were allowed in and found their property confiscated.

But Abramovich was not the only one to take his boats to Turkey. Dmitry Medvedev, until recently President Putin’s number two and Russian construction magnate Maxim Shubarev were like that. There are still more super boats along the way.

Open door policy

The reason is that, unlike Europe, Turkey refuses to use sanctions against Russia.

“I think there are two major reasons why Turkey does not want to join the European embargo,” explains York Isaac, a researcher and member of the MEI’s think tank. The first practice is: Turkey is facing a severe economic crisis. Second, Turkey has a position in the world as a country focused on entrepreneurship and trade. For this he is against any kind of permission. We are talking about a country that continues to trade with countries directly involved in war. “

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“In addition, there is the general annoyance of the Turkish government with the EU. Why should Turkey, which has no Turkish mind, influence or decision-making power, join the embargo?” Isik asks.

For now, Brussels and Washington are not putting much pressure on Turkey to change its policy.

For Ankara, it is difficult to do so: opposing Moscow will come at a high cost, from gas to tourism, trade and war in Syria, with Turkey and Russia supporting opposing sides.

In fact, the EU seems to be comfortable with Turkey’s balanced position between Ukraine and Russia. “We respect the position of mediator between Europe and Russia and are keen to keep it that way,” explains one European diplomatic source, who said Brussels actually asked Turkey to use sanctions, but did so in informal, private conversations, without much coercion.

Leave the money inside

“Trade with Russia continues and will continue, but politically and militarily Turkey is on the side of Ukraine. Maintaining trade relations with Russia is a way for Turkey to earn the money it needs. .

However, there are risks to this policy, and Turkey has already suffered from them in the past. Hulkbank, one of its public sector banks, is under investigation in the United States for allegedly helping Iran avoid sanctions. Some believe this will happen in the future.

“These super boats will be a headache for our state. According to press reports, the possibility of Russian oligarchy withholding their money in Turkey is mouth watering our government. This route may be dangerous. Be careful, “writes former Turkish ambassador Selim Kunoralp.

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Many private Turkish banks, in fact, refuse to open accounts and deal with Russians coming to Anatolia. According to ICICI, they do not do it out of fear. “However, Turkish public banks do it to get maximum economic returns,” the analyst explains.

Within minutes of Abramovich’s Solaris keyboard trying to shout, scream, and stop, Turkish officials concluded the party was over.

The Coast Guard approached the boat and urged its crew to get out of the way. “You can protest, but you have to do it according to the rules of our country,” they were told. The missile moved; Super boat stopped. Turkey is open for business.

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