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U.S. Halts $5B Russian Funds to Turkey's Nuclear Project

2/2/2025

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Summary

Story summary

Russia funneled more than $5 billion to Turkey for the Akkuyu nuclear power plant, cleverly navigating U.S. sanctions through American banks. In response, the U.S. Justice Department halted additional transfers, wary of straining diplomatic ties. Investigations uncovered a plot involving Turkish officials and banks to establish an offshore reserve for Russian interests, raising serious concerns.

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Story summary

Russia funneled more than $5 billion to Turkey for the Akkuyu nuclear power plant, cleverly navigating U.S. sanctions through American banks. In response, the U.S. Justice Department halted additional transfers, wary of straining diplomatic ties. Investigations uncovered a plot involving Turkish officials and banks to establish an offshore reserve for Russian interests, raising serious concerns.