U.S. extends sanctions waiver, Turkey secures Russian gas
Turkey received an extension of the U.S. sanctions waiver on importing Russian gas until May. This decision is crucial for the country, which imported over 45% of its gas from Russia last year.
According to Bloomberg, an anonymous Turkish official reported that Turkey obtained an extension of the U.S. sanctions waiver on importing Russian gas until May. Initially set to expire on March 20, the waiver is essential for Turkey, which imported more than 45% of its gas from Russia last year.
The decision to extend the sanction waiver was made after a phone conversation between Mehmet Simsek, the Turkish Minister of Treasury and Finance, and Scott Bessent, the U.S. Secretary of the Treasury. The talks focused on sanctions and other economic and national security issues.
In November, the U.S. imposed sanctions on Gazprombank to limit Russia's gas revenue. However, Turkey and Hungary received exemptions.
turkish energy strategy
Turkey was granted an extension of the U.S. sanctions waiver, allowing it to continue importing Russian gas. This is crucial for the country, which imported over 45% of its gas from Russia in 2024. These supplies are essential given the winter and a decline in hydroelectric energy production.
Russian gas is delivered through the TurkStream pipeline, the last pipeline supplying Russian gas to Europe. This route is critical for the region, replacing the route through Ukraine. After the route through Ukraine was closed, Turkey became the primary delivery channel, underscoring its importance for Slovakia and Hungary.
