Financial Crime World

Turkey’s Sanctions Regime: A Comprehensive Overview

Ankara, Turkey - Turkey has a robust sanctions regime in place, which applies to both individuals and entities within the country and those outside who have connections to Turkey. The regime includes trade embargos on various goods and services, as well as asset freezing restrictions.

Sanctions Regime: Implementation and Scope

Turkey implements United Nations (UN) sanctions, as well as its own autonomous sanctions regime. This includes:

  • Trade restrictions on:
    • Narcotics
    • Casino machinery
    • Certain types of plants
    • Other goods
  • Sanctions against individuals and entities suspected of engaging in terrorist activities or supporting terrorism

Consequences of Non-Compliance

Under Turkish law, failure to comply with sanctions can result in severe penalties, including:

  • Imprisonment for up to one year
  • Fines of up to TRY 4,000,000 (approximately USD 1.2 million)
  • Administrative fines may also be imposed for non-compliance with export/import requirements

Relevant Regulators

The following agencies work together to enforce sanctions and ensure compliance with international obligations:

  • Ministry of National Defence
  • Ministry of Treasury and Finance
  • Turkish Atomic Energy Authority
  • Ministry of Trade

Seeking Expert Advice

For those seeking to navigate Turkey’s complex sanctions landscape, it is essential to consult with legal experts who have experience in this area. Failure to comply with sanctions can result in serious consequences, including fines and imprisonment.

Contact Information

If you need to contact any of the relevant regulators, please find their contact information below:

  • Ministry of National Defence
    • Address: Milli Savunma Bakanlığı Devlet Mahallesi, Yahya Galip Caddesi Bakanlıklar/
    • Ankara, Turkey
    • Phone: (+90) 312 402 61 00
  • Ministry of Treasury and Finance
    • Address: İsmet İnönü Bulvarı No:36
    • Emek/
    • Ankara
    • Phone: (+09) 312 415 29 00
  • Turkish Atomic Energy Authority
    • Address: Mustafa Kemal Mahallesi,
    • Dumlup nar Bulvar, No:192,
    • 06510,
    • Çankaya, Ankara, Turkey
    • Phone: (+90) 312 295 8700
  • Ministry of Trade
    • Address: Sogutozu Mah. 2176 Sk. No:63
    • Çankaya /
    • Ankara
    • Phone: (+90) 312 204 75 00