Minister Bayraktar Announces Turkey’s Exemption from Sanctions
Minister of Energy and Natural Resources Alparslan Bayraktar announced that the USA has granted Turkey an exemption from the Gazprombank sanction, allowing Turkey to continue making its natural gas debt payments through the bank. This decision follows meetings between Turkish officials and their US counterparts in the Ministry of Energy and Natural Resources and the Ministry of Foreign Affairs.
After Gazprombank was included in the US sanctions list, Turkey persistently expressed its request for exemption, highlighting the impact that the sanctions would have on Turkey’s natural gas trade with Russia. Minister Bayraktar emphasized that a similar exemption had been granted to Turkey in the past during the Iran sanctions process, and without it, Turkey could potentially become a target of sanctions.
In response to the US exemption, Turkey has also engaged in talks with Russia to explore alternative solutions. Russian officials and bureaucrats visited Ankara at the end of November to discuss possible scenarios. Minister Bayraktar did not provide details on the alternative payment methods that were discussed with Russia.
This development marks a significant milestone in Turkey’s energy trade relations with Russia and the US. The exemption from the Gazprombank sanction will allow Turkey to continue its natural gas trade with Russia without interruption, ensuring stability in the energy sector.
