Turkey secures extended U.S. waiver to import Russian gas
Turkey has 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. The waiver, initially set to expire on March 20, is essential for Turkey, which last year imported over 45% of its gas from Russia.
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 has successfully obtained the U.S. sanctions waiver extension, allowing it to continue importing Russian gas. This is vital for the country, which imported over 45% of its gas from Russia in 2024. Amid winter and declining hydroelectric energy production, these supplies are essential.
Russian gas is delivered through the TurkStream pipeline, the last pipeline supplying Russian gas to Europe and is crucial for the region. After the route through Ukraine was closed, Turkey became the primary delivery channel, underscoring the importance of this route for Slovakia and Hungary.
