US extends sanctions waiver, allowing Türkiye to continue Russian gas imports until May

The United States has decided to extend a sanctions waiver that allows Türkiye to continue purchasing Russian natural gas until May.

The three-month exemption, which was originally set to expire on March 20, was granted to Türkiye due to its reliance on Russian gas imports, Caliber.Az reports via foreign media.

Last year, over 45% of Türkiye's natural gas came from Russia, according to calculations. These supplies have proven essential during an unusually cold winter and are expected to remain critical in the summer months, as hydropower generation is predicted to decline.

Earlier this week, Türkiye’s Treasury and Finance Minister Mehmet Şimşek and US Treasury Secretary Scott Bessent held a phone call. The two officials discussed sanctions as well as other economic and national security issues of mutual concern, according to a statement from the US Treasury Department.

The US had previously imposed sanctions on Gazprombank, a key financial institution for energy transactions, in November, aiming to curb Russia's gas revenues. However, Türkiye and Hungary, both major importers, were later granted exemptions from these sanctions.

By Aghakazim Guliyev