Türkiye calls for extension of US sanctions exemption for Russia's Gazprombank

Alparslan Bayraktar, Turkish Energy Minister, has urged the United States to extend the exemption from sanctions for Gazprombank, which allows Türkiye to pay for Russian gas imports.

Bayraktar emphasized the importance of continuing this exemption, which was initially granted in December, Caliber.Az reports per Turkish media.

“We received an easing on the issue related to Gazprombank. It is important that this continues,” Bayraktar said.

The exemption, which permits Gazprombank to facilitate payments for Russian gas, was granted for a three-month period, and Bayraktar’s comments signal Türkiye’s desire for it to be extended further.

This development follows earlier reports that Türkiye had secured an exemption from the US, permitting the continuation of payments to Russia’s state-owned Gazprom through Gazprombank, despite the existing sanctions.

The exemption stems from discussions between Turkish and US officials. This exception allows Türkiye to maintain its payments for Russian gas without the typical sanctions that the US imposes on financial transactions involving Russian entities.

The significance of this exemption is heightened by the ongoing tensions between the West and Russia, especially in the wake of Russia's invasion of Ukraine. Türkiye, which has largely maintained a neutral stance in the conflict, continues to rely on Russian energy supplies, including natural gas, as a crucial element of its energy strategy.

The US exemption appears to reflect Türkiye's strategic position in both regional and global geopolitics. As a key NATO ally and an essential player in energy transit routes from Russia to Europe, Türkiye's role remains vital in balancing its energy needs with its broader diplomatic objectives.

By Vafa Guliyeva