Turkey dodged being placed on the European Union's (EU) tax haven blacklist, and was given until the end of May to comply with the organization's transparency criteria, AFP reported on Feb. 16.
Tensions between Ankara and the EU have been on the rise over the past year as Turkey has insisted on continuing gas exploration activities in the eastern Mediterranean.
Germany has acted as a mediator between Ankara and the bloc as Berlin is keen on keeping Turkey in compliance with an immigration treaty that limits the movement of masses into EU territory.
Turkey remains on the EU tax haven grey list and will be added to the blacklist in the next update in October, one diplomat told AFP.
The latest ruling by the EU comes over a month after a grace period ended in December, but the blacklisting decision would have to be discussed among member states again, another member said.