Turkish foreign minister extends warm welcome to Russian oligarchs.

• This week, Turkey's coastal waters have been the focus of attention, with two multimillion-dollar superyachts reportedly owned by Russian oligarch Roman Abramovich arriving in the region.
• Abramovich is reportedly investing $1.2 billion in a non-EU country, with each investment worth an estimated $600 million or more.
• He aims to protect his assets from the governments of the U.S., U.K., and EU, who are targeting Russia's wealthy elite.
• Turkey considers the move legitimate as long as the yachts stay beyond the 12 nautical miles territorial waters of sanctioning countries.

Turkish Foreign Minister Mevlut Cavusoglu stated on Saturday that he would welcome sanctioned Russian oligarchs as tourists and investors in his country, provided that all business transactions adhered to international law.

This week, Turkey has been in the news due to the presence of two multimillion-dollar superyachts in its coastal waters, which are believed to belong to Russian oligarch Roman Abramovich, circumventing Western sanctions.

Abramovich is reportedly investing $1.2 billion in a non-EU country in an effort to move his assets beyond the reach of U.S., U.K., and EU governments targeting Russia's wealthy elite. Turkey has stated that this move is legitimate as long as the yachts remain outside the territorial waters of sanctioning countries, which extend 12 nautical miles out from the coastline.

Turkish Foreign Minister Mevlut Cavusoglu stated in an interview with CNBC's Hadley Gamble at the Doha Forum in Qatar that any action must be legal.

"We adhere to U.N.-approved sanctions, so any Russian citizens who wish to visit Turkey are welcome to do so. The influx of Russian tourists to Turkey is not an issue," he stated.

Cavusoglu stated that if the oligarchs' business activities in Turkey are legal and do not violate international law, he would consider them.

He remarked, "That's a different matter if it violates international law."

Mediator

Turkey has condemned Russia's unjustified invasion of Ukraine but is against the sanctions imposed by its NATO allies. Due to its close ties with Russia, both diplomatic and economic, and its sometimes tumultuous relationship with Western powers, this stance is unlikely to shift in the near future.

Turkey has emerged as a neutral and respected mediator in discussions between Russia and Ukraine, earning praise from Dutch Prime Minister Mark Rutte for its efforts. As a result, it has become a popular destination for Russians seeking to safeguard their wealth and invest in a rapidly changing global economy.

In March, during a meeting in Antalya, Turkey, between Russian Foreign Minister Sergei Lavrov and Ukrainian Foreign Minister Dmytro Kuleba, no clear results were achieved.

Recently, Cavusoglu visited Russia and Ukraine for discussions with Lavrov and Kuleba, stating that there had been progress on significant issues.

Over the years, Turkey has established strong relationships with Russia in areas such as defense, energy, and trade, and also receives a significant amount of tourism from the country. However, Ankara's recent sale of drones to Kyiv has caused tension with Moscow.

Russian missile defense systems

In 2020, the Trump administration imposed sanctions on Turkey for purchasing the S-400 missile system from Russia.

On Saturday, Cavusoglu stated that his country required additional air defense systems and did not exclude the possibility of purchasing more from Moscow.

He stated to CNBC that he prefers to buy from the United States and allies, but if that's not possible, he must look for another source. He expressed regret over the delay in the deal between Turkey and its European neighbors.

"Our region is not a safe haven, so we are still working on other alternatives," he said.

He stated that as a sovereign country, he must safeguard his nation and acquire his requirements from any potential source.

—CNBC’s Karen Gilchrist contributed to this article.