Türkiye explains firm position on natural gas dealings with Russia
The Turkish energy minister emphasizes the importance of maintaining uninterrupted gas trade with Russia despite the recent US sanctions. Read Full Article at RT.com
TroibNews 
According to Turkish Energy Minister Alparslan Bayraktar, Türkiye is firmly against US sanctions targeting Russian gas, as they cannot be easily substituted in the short term, TRT Haber reported on Friday.
Recently, Washington imposed blocking sanctions on over 50 Russian financial institutions, including Gazprombank, which is associated with the gas giant, as well as six of its international subsidiaries. This action has severed Russia’s main bank for energy transactions from the SWIFT interbank messaging system.
“We are against any decision that will affect the gas flow from Russia. If these sanctions come to this point, [it] will harm the Turkish economy, households and 85 million people,” Bayraktar stated to journalists.
The minister highlighted that Türkiye ranks as the fourth largest gas market in Europe, with Russia being one of its significant gas providers. He also noted that the matter is currently being discussed within the country’s finance and foreign affairs ministries.
Bayraktar expressed optimism regarding the five-year transit contract for gas pipeline supplies from Russia to Europe via Ukraine, which is set to expire on December 31. He noted that Ukraine has indicated it does not plan to extend the agreement. A halt in the flow could potentially lead to the EU losing up to 5% of its total annual gas consumption.
“The extension of the agreement will have a positive impact on prices on the gas market. In this case, Türkiye is ready to do whatever is necessary, but I think that the agreement will still be extended,” he remarked, underscoring the importance of payment mechanisms through Gazprombank for the EU as well.
Earlier this week, media reports indicated that Ankara is negotiating with Washington for a sanctions waiver that would permit Türkiye to continue its gas imports from Russia. Bloomberg cited Bayraktar as stating that the new sanctions “may amount to something very big” for the country without an exemption.
Despite being a NATO member, Ankara has refrained from imposing sanctions on Russia and has continued to engage with both Moscow and Kiev. Last year, Russian gas constituted approximately 45% of Türkiye's gas imports.
Max Fischer for TROIB News
Recently, Washington imposed blocking sanctions on over 50 Russian financial institutions, including Gazprombank, which is associated with the gas giant, as well as six of its international subsidiaries. This action has severed Russia’s main bank for energy transactions from the SWIFT interbank messaging system.
“We are against any decision that will affect the gas flow from Russia. If these sanctions come to this point, [it] will harm the Turkish economy, households and 85 million people,” Bayraktar stated to journalists.
The minister highlighted that Türkiye ranks as the fourth largest gas market in Europe, with Russia being one of its significant gas providers. He also noted that the matter is currently being discussed within the country’s finance and foreign affairs ministries.
Bayraktar expressed optimism regarding the five-year transit contract for gas pipeline supplies from Russia to Europe via Ukraine, which is set to expire on December 31. He noted that Ukraine has indicated it does not plan to extend the agreement. A halt in the flow could potentially lead to the EU losing up to 5% of its total annual gas consumption.
“The extension of the agreement will have a positive impact on prices on the gas market. In this case, Türkiye is ready to do whatever is necessary, but I think that the agreement will still be extended,” he remarked, underscoring the importance of payment mechanisms through Gazprombank for the EU as well.
Earlier this week, media reports indicated that Ankara is negotiating with Washington for a sanctions waiver that would permit Türkiye to continue its gas imports from Russia. Bloomberg cited Bayraktar as stating that the new sanctions “may amount to something very big” for the country without an exemption.
Despite being a NATO member, Ankara has refrained from imposing sanctions on Russia and has continued to engage with both Moscow and Kiev. Last year, Russian gas constituted approximately 45% of Türkiye's gas imports.
Max Fischer for TROIB News
