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Russia is said to have sent over $5 billion to Turkey soon after the conflict started, according to the WSJ. Sources from the newspaper indicated that the countries purportedly consented to Gazprombank, which was not sanctioned at that moment, offering a $9 billion loan for the building of the Akkuyu nuclear power facility in Turkey, managed by Russian nuclear agency Rosatom.
Nonetheless, the transactions that occurred via the American banks JPMorgan Chase and Citigroup caught the interest of the US Justice Department. Sources from the newspaper indicated that the department believed Russia was attempting to evade the sanctions. Consequently, the U.S. government halted certain bank transactions and $2 billion remains “trapped” in JPMorgan, according to WSJ.
As reported by the newspaper, U.S. prosecutors attempted to seize the money in 2024, but at the final stage, the administration of former President Joe Biden halted this decision due to Washington's desire to maintain good relations with Turkey.
source: wsj.com
Nonetheless, the transactions that occurred via the American banks JPMorgan Chase and Citigroup caught the interest of the US Justice Department. Sources from the newspaper indicated that the department believed Russia was attempting to evade the sanctions. Consequently, the U.S. government halted certain bank transactions and $2 billion remains “trapped” in JPMorgan, according to WSJ.
As reported by the newspaper, U.S. prosecutors attempted to seize the money in 2024, but at the final stage, the administration of former President Joe Biden halted this decision due to Washington's desire to maintain good relations with Turkey.
source: wsj.com
