Ziraat is one of the largest state-owned banks in Turkey with total assets of more than $110 billion. Turkish banks began blocking payments from Russia in January 2024. The “blockade” became almost total and affected all sectors - from trade to tourism. At the same time, payments in national currencies also came under attack: Turkish banks do not accept either lira or rubles from Russia. The reason was the decree of US President Joe Biden, according to which the US Treasury can introduce measures against foreign banks working with sanctioned persons from Russia or facilitating the supply of certain materials and equipment to the Russian military-industrial complex (DIC).