Turkey is negotiating with the US to pay for Russian gas
World
According to Bloomberg, Turkey is negotiating with the US to maintain the ability to pay for Russian gas through Gazprombank. This effort is tied to recent sanctions imposed by the US Treasury Department on Gazprombank.
Turkey, a major purchaser of Russian gas, seeks to continue these transactions to ensure its energy security. Rather than bypassing the sanctions, Ankara aims to carry out the payments legally by obtaining permission from the US.
Sources cited by Bloomberg indicate that Turkey hopes to secure a special license from the US, which would allow continued gas trade through Gazprombank.
Gazprombank is the primary financial channel for Russian gas trade. However, recent US sanctions have significantly restricted the bank’s international operations, complicating payment mechanisms for countries importing Russian gas.
Under the sanctions imposed by the US Treasury's Office of Foreign Assets Control (OFAC), all operations with Gazprombank must be concluded by December 20, 2024. However, some exceptions, such as operations under the Sakhalin-2 project, are permitted.
Turkey relies heavily on Russian gas, and the loss of the payment mechanism via Gazprombank would require finding new financial channels. If the US grants Turkey this right, it could play a crucial role in ensuring the continuation of gas trade.
Sources cited by Bloomberg indicate that Turkey hopes to secure a special license from the US, which would allow continued gas trade through Gazprombank.
Gazprombank is the primary financial channel for Russian gas trade. However, recent US sanctions have significantly restricted the bank’s international operations, complicating payment mechanisms for countries importing Russian gas.
Under the sanctions imposed by the US Treasury's Office of Foreign Assets Control (OFAC), all operations with Gazprombank must be concluded by December 20, 2024. However, some exceptions, such as operations under the Sakhalin-2 project, are permitted.
Turkey relies heavily on Russian gas, and the loss of the payment mechanism via Gazprombank would require finding new financial channels. If the US grants Turkey this right, it could play a crucial role in ensuring the continuation of gas trade.
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