Turkish Trade Minister Omer Bolat on Thursday dismissed Israeli claims of Ankara relaxing its trade ban with "Israel" as "absolutely fictional and have nothing to do with reality."

This comes after "Israel's" Foreign Minister claimed earlier in the day that Turkish President Tayyip Erdogan had backtracked on a decision to sanction companies that have existing deals with "Israel."

Instead, Erdogan lifted many of the trade restrictions imposed on "Israel," the Israeli Foreign Ministry claimed.

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On May 2nd, the Turkish leadership announced Ankara has halted all exports and imports to and from "Israel".

Shortly after the decision was issued, "Israel's" foreign minister responded by calling Turkish President Recep Tayyip Erdogan a "dictator" and accused him of ignoring the interests of the people of Turkey by restricting ports for Israeli imports and exports, trade relations that are reportedly worth $7 billion per year.

However, the ban is not permanent. Turkish authorities stated that the lifting of sanctions is conditional upon "Israel's" decision to agree to a permanent ceasefire.

"We decided to stop exports and imports to and from Israel until a permanent ceasefire is achieved (in Gaza) and humanitarian aid is allowed without interruption," Bolat said on May 3rd.

Turkish companies granted three-month window to fulfill orders

According to a document obtained by Reuters, the Turkish trade ministry outlined the three-month reprieve for companies exporting to "Israel" following the introduction of the trade ban.

A source from the Turkish trade ministry revealed that companies have been granted three months to fulfill existing orders via third countries. Furthermore, relaxing Turkey's ban on exports to "Israel" is deemed "out of the question."

These latest measures aim to safeguard Turkish traders, as stated by another source from the ministry.

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Last week, President Erdogan assured Turkish businesspeople that Ankara would handle the challenges arising from the trade halt with "Israel" in "coordination and dialogue" with the business community.

In a separate statement, the Turkish presidency's communications directorate slammed Israeli claims of Turkey easing the trade ban with "Israel" as an attempt "to manipulate international public opinion."