Turkey is trying to get a special permission from the United States. This would allow Turkey to keep paying for natural gas from Russia.
The US recently put new sanctions on Russia. These sanctions target Russian banks and officials. One of these banks, Gazprombank, helps Turkey pay for Russian natural gas. The Turkish government wants a waiver, or special permission, so it can continue making these payments.
Turkey gets most of its natural gas from Russia. In fact, Russia supplies about 40% of Turkey’s energy needs. If Turkey cannot get this permission, it may struggle to buy other goods and services.
The US previously did not target Gazprombank. This was so European countries could still pay for Russian gas. The new sanctions will make it harder for Russia to use its money for military purposes.
Turkey is talking to the US about this issue. If Turkey does not get permission, it will be directly affected. Not just Russia will suffer from these sanctions.
Turkey recently started discussing a long-term deal with ExxonMobil, an American oil company. This could help reduce Turkey’s reliance on Russian natural gas.
Gazprom, Russia’s state-controlled gas company, is planning for a situation where no Russian gas flows through Ukraine after December 31, 2024.