Putin and Erdogan agreed to partially pay for gas in rubles
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Russian President Vladimir Putin and his Turkish counterpart, Recep Tayyip Erdogan, agreed after a meeting in Sochi that Turkey would gradually start paying for Russian gas in rubles, Deputy Prime Minister Alexander Novak said.
“In the process of negotiations, the presidents agreed that we would begin partial gas supplies and pay in rubles. We are moving to the national currency, and at the first stage, part of the supplies will be paid in rubles. This is really a new stage, new opportunities, including for the development of our monetary and financial relations,” Novak told reporters at a press conference following the talks.
The talks between Putin and Erdogan ended in Sochi. The last time the leaders of the two countries met in Tehran on July 19. Then they discussed the fight against international terrorism and the situation in Syria. Their last meeting in Sochi took place on September 29, 2021.
On July 20, Bloomberg wrote that Erdogan plans to discuss payments for energy supplies from Russia in a currency other than the US dollar at a meeting with Putin. According to sources, the states are working on a proposal to abandon settlements in dollars and pay for imported goods, including energy from Russia, in the local currency, the Turkish lira.
This will allow Ankara to reduce the rate of spending of gold and foreign exchange reserves, the agency noted. At the same time, the lira can also be used by Russia when paying for goods and services from Turkish suppliers. The ruble, in turn, should also become part of trade settlements between the two countries, said the official, who wished to remain anonymous.
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