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The John Batchelor Show

#RUSSIA: The prosperous sanctions middlemen in Turkey and Hong Kong. Michael Bernstam, Hoover Institution

The John Batchelor Show

John Batchelor

Society & Culture, Arts, News, Books

4.52.8K Ratings

🗓️ 8 August 2024

⏱️ 11 minutes

🧾️ Download transcript

Summary

#RUSSIA: The prosperous sanctions middlemen in Turkey and Hong Kong. Michael Bernstam, Hoover Institution
https://on.ft.com/46BJLA1

1870 Istanbul

Transcript

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0:00.0

This is CVSI and the world. I'm John Bachelor to the Financial Times reporting on sanctions regime on Russia and its allies.

0:15.9

U.S. warns Turkey of consequences, in quotes,

0:19.3

over military-linked exports to Russia.

0:21.7

Subhead.

0:23.0

Washington seeks more action from Ankara in curbing trade pivotal to Moscow war machine.

0:30.0

I welcome Michael Bernstein of the Hoover Hoover Institution my guide on the sanctions regime

0:35.6

these two years and more and noting that Michael identified the middleman as profiting from the sanctions some years ago and here we are

0:47.6

Turkey now identified as the middlemen making money good for them but there are limits Michael a very good evening to you

0:56.1

there are a lot of happy traders in Turkey they've been making making money

1:01.2

by being the the in-betweens Russia's purchases and the U.S.

1:08.6

wish to visit sanctions on companies selling to Russia.

1:12.0

However, you tell me there are limits and consequences.

1:15.9

What are they? Good evening to you, Michael.

1:17.5

I am good evening to you. This is old Russian adage that the war is the war for some people and the second mother to other people

1:25.5

because it kind of enriches all the middlemen who try to bypass and avoid the sanctions.

1:31.5

And Turkey has been for the last two years.

1:34.8

The number two, I wouldn't say, a violator,

1:36.9

because they didn't sign up to support the sanctions.

1:39.8

But they went against the United States, against the Europeans, against the NATO members.

1:47.0

They are supposed to be an ally. They are not like China.

1:50.0

And nonetheless, Turkey has been the second most important reseller of American equipment, and this equipment

1:58.0

includes memory cards, it includes chips, everything that they buy from the world market and from the United States and

...

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