"We're in contact with U.S. officials on financing for goods that are
allowed" Turkish Trade Minister Zafer Caglayan said.
Caglayan led a Turkish delegation on a visit to Washington on Oct. 17 to
discuss trade with Iran, Middle East Newsline reported. The trade minister said the visit was sparked by
concern among Turkish bankers of the expansion of economic relations between
Ankara and Teheran.
Officials said Iran and Turkey have reached an annual trade volume of
$11 billion. Caglayan said both countries want to increase the figure to $30
billion by 2016, including expanded energy trade.
"While we understand bans on certain aspects of trade, we're having
difficulty understanding the limits on the banking system," Caglayan said.
The United States has been dismayed by Turkey's pledge to increase
energy trade with Teheran. Ankara has promised to purchase 10 billion cubic
meters of gas a year from Iran, or about 20 percent of its contracted
purchases.
As a result, the United States has determined that Ankara was employing
sanctioned Iranian banks to facilitate trade with Teheran. Officials
said Iran was using Turkey for access to the Western banking system.
"Many institutions continue to do business with the Islamic Republic,
essentially undermining the overall sanctions effort," Avi Jorisch, a U.S.
financial intelligence expert and head of the Red Cell Intelligence Group
consultancy, said in recent testimony to the House Committee on Oversight
and Government Reform.
Turkey has also opposed U.S. efforts to impose UN sanctions on Iranian
banks deemed as facilitating Teheran's missile and nuclear programs. One
Iranian bank under U.S. and European Union sanctions was identified as Bank
Mellat, with Turkish branches in Ankara, Istanbul and Izmir.
The administration of President Barack Obama sent several delegations to
Ankara in 2010 to brief Ankara on the prospect of U.S. sanctions on Turkish
banks. One recent delegation included Deputy Assistant Secretary for Terrorist
Financing and Financial Crimes Daniel Glaser, who also visited Bahrain,
Lebanon and United Arab Emirates.
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