Turkey urges U.S. to lift sanctions to continue gas payments to Russia

Bloomberg reported the information.

Turkish Energy Minister Alparslan Bayraktar stressed that without a special exemption, Turkey would be unable to make payments to Russia, which would, in turn, negatively impact the country's ability to purchase gas.

"We won’t be able to pay Russia" he explained. "If we can’t pay, we can’t buy the goods."

He noted that the lack of an exemption would result in significant losses for Turkey. The minister also referenced previous sanctions exemptions, such as those granted for dealings with Iran.

The outlet reported that Bayraktar's remarks have heightened tensions between Washington and other European buyers of Russian gas, following last week's sanctions against Gazprombank. Previously spared from sanctions related to the invasion of Ukraine, Gazprombank had been crucial for facilitating energy payments.

Russia is the largest supplier of gas to Turkey, covering about 42% of its imports last year. 

Hungary, another major importer of Russian gas, has criticized the U.S. sanctions against Gazprombank, arguing that they threaten energy security. Foreign Minister Peter Szijjarto told Bloomberg last week that regional countries "will find a way" to maintain energy flows. His comments came after discussions in Istanbul with regional energy ministers, including Turkey's Alparslan Bayraktar.

Although Turkey supplies Ukraine with combat drones and critical artillery shells, it has yet to impose sanctions on Russia. 

Additionally, Turkey and Russia are planning to establish a gas hub in Turkey, which could include the expansion of underwater pipelines through the Black Sea.

Turkey relies on Russia for about half of its crude oil imports, has one Rosatom nuclear power plant under construction, and is negotiating the construction of a second.

• On November 21, the U.S. Treasury Department's Office of Foreign Assets Control imposed a new package of sanctions against individuals and legal entities in the Russian banking sector.