U.S. Trade Sanctions Lifted From Türkiye's Ida Asansör

Ida Asansör Sanayii Ve Ticaret Ltd., which is based in Malatya, Türkiye, had trade sanctions lifted after being on the U.S. Department of State’s (DOS) Office of Foreign Assets Control (OFAC) List of Specially Designated Nationals and Blocked Persons since May 2024. According to a June 24 letter from the DOS to Ida Asansör, “all property and interests in property that had been blocked due to the sanctions are unblocked, and Ida Asansör is permitted to engage in any lawful transactions involving U.S. persons.” The OFAC list was part of sweeping efforts to target Russia’s military industrial base, and May 2024 additions included companies across multiple countries — including Türkiye — assisting Russia in evading sanctions or supplying critical components toward its war effort. DOS and OFAC said they maintain the ability and discretion to re-implement sanctions if criteria are not met. Established in 2009, Ida Asansör produces and sells elevator cabins, doors, cabin and counterweight frames and complete lifts.