Minister announces: US grants Turkey exemption from Gazprombank sanctions

Minister of Energy and Natural Resources Alparslan Bayraktar announced that the US has granted Turkey an exemption regarding its sanctions on Gazprombank. In a statement to Bloomberg, Minister Bayraktar noted that Turkey will be able to continue making its natural gas debt payments through Gazprombank.

TURKEY'S EXEMPTION REQUEST YIELDS RESULTS

Bayraktar emphasized that this decision was reached following intensive contacts conducted by the Ministry of Energy and Natural Resources and the Ministry of Foreign Affairs with US officials. Following the inclusion of Gazprombank on the sanctions list, Turkey's persistently voiced request for an exemption has yielded results.

TURKEY-RUSSIA NATURAL GAS TRADE TO CONTINUE

The US decision makes it possible for Turkey to continue its natural gas trade with Russia directly. Minister Bayraktar recalled that a similar exemption was granted to Turkey in the past during the Iran sanctions.

ALTERNATIVE PAYMENT SCENARIOS ON THE TABLE

Despite the exemption request, Turkey had evaluated alternative solutions in the face of potential sanctions. During meetings held with Russian officials in Ankara at the end of November, payment options other than Gazprombank had been discussed.