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Turkey starts paying in rubles for Russian gas

2022-11-08 14:06:08, Kosova & Bota CNA

Turkey starts paying in rubles for Russian gas

Turkey has started paying in rubles for part of the natural gas from Russia.

The ruble is the official currency of Russia.

This is what Turkish Energy Minister Fatih Donmez said on Tuesday.

In an interview for the broadcaster TRT, he said that in the coming months the share of payments in local currency in Russian energy imports will increase.

Russia, hit by Western sanctions over its invasion of Ukraine, is increasingly asking buyers of its energy to pay in rubles to help shore up its currency.

Most international energy deals are done in US dollars or euros.

Turkey has pledged to gradually start paying in rubles for Russian energy imports. This pledge was made at the summit between Turkish President Recep Tayyip Erdogan and Russian President Vladimir Putin in Sochi in September.

Last year, Russian imports accounted for almost half of Turkey's natural gas purchases.

Erdogan has maintained a good working relationship with Russian President Vladimir Putin as he has attempted to remain neutral in the conflict but has supplied Ukraine with weapons and combat drones.

The European Union, which previously relied on Russia for about 40 percent of its gas needs, is seeking to divest itself of Russian energy following the invasion of Ukraine in February./REL





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