Turkey finds no financial abuse by firm US targeted over Hamas ties

Trend Gayrimenkul Yatirim Ortakligi

19/12/2023 08:22

ISTANBUL, Dec 19 (Reuters) - Turkey said it had reviewed
the financial activities of a company whose shareholders were
sanctioned by the United States on the grounds of providing aid
to Hamas and found there was no abuse of its financial system.
    The United States issued sanctions aimed at the Palestinian
militant group Hamas on Oct. 27, with three primary shareholders
of Turkish real estate investment fund Trend GYO  TDGYO.IS ,
including its chairman and a board member, among those targeted.
    At the time, Trend GYO denied providing financial support to
the group.
    Turkey's Treasury said in a statement late on Monday that
the Turkish financial system operated in full compliance with
national laws and international obligations, monitored by
several regulatory and supervisory authorities.
    "Turkish authorities have carefully reviewed the financial
activities and status of all relevant real and legal persons to
establish that there was no abuse of our nation's financial
system," it said. 
    Turkish officials have shared those findings with their U.S.
counterparts, including Treasury Undersecretary Brian Nelson and
his team during their most recent visit to Ankara, and received
no evidence that challenged their findings, the statement said. 
    Nelson told journalists in Istanbul last month that even
though Turkey does not designate Hamas a terrorist group, the
U.S.-targeted entities could still violate Turkish domestic law,
including money laundering and the direct funding of violent
acts.
    Speaking to Reuters last week, a Turkish official said that
while Turkey only imposed sanctions endorsed by the United
Nations Security Council and opposed unilateral measures, Ankara
took measures to minimize any circumvention of sanctions.   

 (Reporting by Daren Butler and Tuvan Gumrukcu;
Editing by Jonathan Spicer and Bernadette Baum)
 ((daren.butler@tr.com; +90-212-350 7053; Reuters Messaging:
daren.butler.thomsonreuters.com@reuters.net))