"Although Turkey abandoned its neutrality and joined the Allies shortly before the end of the war, Allied representatives sought from 1946 to 1952 to gain control of German assets estimated at up to $44 million and looted Belgian gold worth $5 million or more located in Turkey. Desultory negotiations stretched over several years. By the spring of 1951, the Allies had agreed to relinquish their claims to German assets in Turkey in return for settlement of the gold issue. A May 1952 Allied note to the Turkish Foreign Ministry agreed to settle the gold issue for $1 million, relinquished the Allied claim to the German assets and allowed Turkey to keep the proceeds from the liquidation of German assets. However, Turkey never turned over any monetary gold to the Tripartite Gold Commssion."