Turkish President Recep Tayyip Erdogan has confirmed that Russian gas deliveries to Turkey will be paid for in rubles, Turkish media reported on Saturday. “A positive aspect of our visit to Sochi is our agreement with Vladimir Putin on the ruble. God willing, our ruble exchanges will ensure benefits for Turkey and Russia,” the Turkish head of state told reporters on board his flight. back from Sochi (Russia), on the shores of the Black Sea, where he met on Friday with the Russian president.
“There was an important component; deliveries of gas to the Republic of Turkey were discussed, which is supplied in a fairly huge volume – 26 bln cubic meters per year. The Presidents agreed during talks that we will start partial gas deliveries and payment in rubles,” Novak said
Russia and Turkey are talking about a gradual transition to payments in national currencies, the Deputy Prime Minister said.
“Supplies will be partly paid in Russian rubles then at the first stage. This is indeed the new stage, new opportunities, including for development of our monetary and financial relations,” Novak added.
The United States and European Union are trying to pressure Russia’s energy clients from switching to ruble payments to limit Moscow’s ability to wage its war against Ukraine.
Ruble payments help Russia avoid restrictions on dollar transactions with Moscow that the United States is trying to impose on global banks.
Turkey has refused to join the sanctions regime against Russia and instead pushed for truce talks between Moscow and Kyiv.
Erdogan and Putin pledged in Sochi to expand economic cooperation in sectors including banking and industry.
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