Jul 14 2018

Iranians registering companies in Turkey to bypass sanctions

Iranian businesspersons have been registering their companies in Turkey, in order to bypass U.S. sanctions on Iran, Sputnik Turkish reported on Friday.

Ahmad Hashemi from the Iran’s Ministry of Foreign Affairs told Sputnik that the significant increase in the number of Iranian companies registered in Turkey was a result of the companies’ efforts to bypass sanctions, rather than an increase in bilateral trade between two countries. 

“Economic security and stability is high in Turkey. Iranian companies that wish to take benefit from that started making investments in Turkey. Many European and U.S. companies are using their İstanbul offices to follow Middle East and North African markets. And this underlines the importance of İstanbul and Turkey,” Hashemi said.