Economy 2023-11-15T04:51:07+02:00
Ukrainian news
Turkiye Begins To Partially Pay For Natural Gas In Rubles

Turkiye Begins To Partially Pay For Natural Gas In Rubles

natural gas, paying for Russian gas in roubles, natural gas supplies from Russia, Turkiye

Turkiye began to pay for some of the natural gas from the Russian Federation in rubles. This was announced today, November 8, by Turkish Energy Minister Fatih Donmez, European Pravda reports with reference to Reuters.

Donmez also said that in the coming months, the share of payments in local currency in energy trade with Russia will increase.

It is noted that Russia against the backdrop of Western sanctions due to a full-scale invasion of Ukraine is increasingly asking buyers of their energy carriers to pay in rubles to help strengthen their currency. Most international energy deals are in U.S. dollars or euros.

Turkiye is also trying to boost trade by using Turkish Lira, which has been hit by unorthodox monetary policy.

In September, during a meeting on the sidelines of the Shanghai Cooperation Organization summit, Turkish and Russian presidents Recep Tayyip Erdogan and Vladimir Putin agreed to pay Ankara 25% of Russian gas in rubles.

Asked about Russian President Vladimir Putin's proposal for a gas hub in Turkiye, Donmez said Ankara would develop a roadmap by the end of this year and possibly hold a conference for suppliers and buyers.

As Ukrainian News Agency earlier reported, Turkiye banned the flights of Russian aircraft over its territory.

On November 6, Turkiye did not let the ships of the Russian Pacific Fleet to the Black Sea, which were heading to attack Ukraine.

In March, four Russian warships did not reach the Black Sea due to the ban of Turkiye.

In February, the Turkish government decided to close the Bosphorus and Dardanelles, which connect the Mediterranean and Black Seas, to the movement of Russian warships.