Turkey Secures Gas Payment Exemption Amid US Sanctions on Gazprombank

Turkey has gained an exemption to continue gas payments to Russia following U.S. sanctions on Gazprombank. This allowance is crucial as Russia supplies over half of Turkey's gas imports. Discussions with U.S. officials have resulted in a waiver that aligns Turkey with Hungary, another recipient of similar concessions.

In a development easing energy trade tensions, Turkey has received an exemption to continue paying for gas imports to Russia, despite recent U.S. sanctions on Gazprombank, Turkish Energy Minister Alparslan Bayraktar confirmed. This move allows Turkey to maintain its crucial energy supplies from its largest gas provider.

The sanctions, imposed by the United States in November, had initially complicated payments for Russian gas, as Gazprombank was a principal channel for such transactions. With Russia supplying over 50% of Turkey's gas needs, the waiver was essential for securing the nation's energy continuity.

Similar gestures of concession from the U.S. included a waiver to Hungary, another major consumer of Russian energy resources. These waivers underscore the geopolitical intricacies involved in balancing sanctions with the pressing energy needs of multiple countries reliant on Russian supply lines.

(With inputs from agencies.)