Iranians set up new companies in Turkey to evade US sanctions

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Sun, 2019-12-22 04:20

JEDDAH: Hundreds of Iranians have set up new businesses in Turkey to evade crippling US economic sanctions.

More Iranians than any other nationality registered foreign companies in Turkey in the first 10 months of this year, according to new data from the Union of Chambers and Commodity Exchanges of Turkey.

Out of 10,682 opened from January to October, more than 800 were registered by Iranian citizens — 49 publicly listed and 772 private limited companies,