Erdogan: Turkey will pay for Russian gas in rubles

Recep Tayyip Erdogan and Vladimir Putin / August 5, 2022 / Photo: EPA-EFE/VYACHESLAV PROKOFYEV

Turkish President Recep Tayyip Erdogan said today, after returning from Sochi, that Turkey will pay for Russian gas in rubles.

- A positive aspect of our visit to Sochi is the agreement with Mr. (Russian President Vladimir) Putin for payment in rubles, Erdogan told reporters after returning from Sochi where he met with Putin.

The two presidents agreed that the deliveries of Russian gas to Turkey "will be partially paid in rubles", the Deputy Prime Minister of Russia Alexander Novak announced last night.

Erdogan did not specify the volume of future transactions in rubles.

For months, Russia has been trying to impose its own currency to pay for gas because of sanctions imposed by Western countries over its invasion of Ukraine.

Although quick to condemn the Russian offensive, Turkey opted for neutrality and did not join Western sanctions against Moscow.

In 2021, Russia provided about a quarter of Turkey's imported oil and 45 percent of its natural gas.

Erdogan and Putin in Sochi also agreed to strengthen energy and economic cooperation.

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