Gazprom shifts to Turkey amidst tough US sanctions
Gazprom is moving its operations to Turkey, creating a new gas hub. The company's employees are learning Turkish and renting apartments in Istanbul. This move is a result of service operators leaving the EU for the Nord Stream and TurkStream pipelines.
The Russian conglomerate Gazprom has decided to establish a new gas hub in Turkey. According to reports from "The Moscow Times," the company's employees, who previously operated the Nord Stream and TurkStream pipelines, have left European Union territory.
Reports indicate that many of them have moved to Turkey, where Gazprom plans to expand its operations. Employees are intensively learning Turkish and renting apartments in Istanbul, suggesting the company's long-term plans in the region.
The decision to move operations to Turkey is related to the suspension of gas exports to Europe through Ukraine. Gazprom, however, continues to export gas via the TurkStream pipeline, which runs along the bottom of the Black Sea. Employees, including citizens of Russia and EU countries, agreed to relocate due to attractive salaries.
Gazprom under US sanctions
The White House announced on Friday a set of sanctions against the largest Russian oil companies and the energy sector. US administration representatives emphasize that these are the toughest sanctions imposed so far and are expected to cost Russia billions of dollars monthly.
The sanctioned entities include two of the largest oil companies, Gazprom Neft and Surgutneftegaz, but not the largest oil producer, Rosneft. The list also includes 183 ships, part of the "shadow fleet" involved in exporting Russian oil, as well as financial and insurance institutions engaged in handling oil and gas transactions. The restrictions aim to prevent the purchase of Russian oil and gas from the largest companies using dollars. The sanctions were imposed in coordination with the United Kingdom, which also penalized Gazprom Neft and Surgutneftegaz.
The United States is taking sweeping action against Russia’s key source of revenue for funding its brutal and illegal war against Ukraine. With today’s actions, we are ratcheting up the sanctions risk associated with Russia’s oil trade, including shipping and financial facilitation in support of Russia’s oil exports," announced Treasury Secretary Janet Yellen.
