Caglayan rules out measures against firms blacklisted by the US
Turkey won't apply sanctions on three business entities that the US recently blacklisted for allegedly providing materials and support to Iran's ballistic missile development efforts, according to State Minister Zafer Caglayan. "The US decision only binds the US," Caglayan said during a meeting of the Association of Diplomatic Correspondents in Ankara yesterday. "It's out of the question for us to impose penalties or bar these companies from trade." Last week the US Treasury blocked transactions with two Turkish nationals and three Turkish firms, claiming they were supplying goods and services for Iran's Aerospace Industries Organization. The US said an Iranian businessman and his Turkish associates ran businesses in Istanbul and Tehran that purchased metals such as steel and aluminum alloy from US companies before exporting them to Iran.