Today: Tuesday, 28 May 2024 year

The volume of maritime transport from Turkey to Israel has decreased by almost a third.

The volume of maritime transport from Turkey to Israel has decreased by almost a third.

Shipping volumes from Turkey to Israel have dropped by 30% following Ankara’s decision to limit exports to that country.

A set of sanctions against Israel due to its actions in the Gaza Strip was announced on Monday by Turkish Foreign Minister Hakan Fidan. The sanctions will remain in effect until Tel Aviv ensures the delivery of humanitarian aid and declares a ceasefire. A press release published by the Turkish Ministry of Trade identified 54 groups of goods whose exports will be limited. Among them are aviation fuel, motor and mineral oils, cement, and various machine tools. The Turkish presidential administration later denied reports of Ankara allegedly supplying fuel for Israeli military aircraft, explaining that it was intended for civil aviation.

“After the Ministry of Commerce restricted the export of certain products to Israel, maritime transport to that country decreased by 30%. Although shipowners state that they categorically do not accept prohibited products, there are also allegations that prohibited products are being shipped through third countries,” local media reported.

The first consequences of the restriction decision taken by the Turkish Ministry of Commerce following a public debate about exports to Israel due to its attacks on Gaza were evident in the logistics sector.
Basaran Bayrak, deputy chairman of the Turkish Exporters Assembly (TIM), told the publication that exporters have stopped shipping prohibited products to Israel and cannot open customs declarations for these products under the HS code.

Mahmut Isik, CEO of Medkon, one of Turkey’s leading shipping companies, told the newspaper that the Turkish Trade Ministry’s decision to restrict trade with Israel had a significant impact on shipping volumes.

“Since April 9, when restrictions began, the volume of business in the field of maritime transport from Turkey to Israel has decreased by 30%,” Isik said.

In total, Türkiye supplied $5.2 billion worth of goods to Israel last year, trade statistics show. About a third of this amount came from iron and steel, land transportation, and plastic and plastic products.

The products currently subject to restrictions account for 13% of Turkish exports to the country, or just over $709 million. Almost a quarter of this amount comes from cement supplies.