Turkey secures US waiver extension for Russian gas imports
Turkey has received an extension of the US sanctions waiver on importing Russian gas until May. This decision is vital for the country, which obtained over 45% of its gas last year from Russia.
According to Bloomberg, an anonymous Turkish official reported that Turkey secured an extension of the US sanctions waiver on importing Russian gas until May. The waiver, previously set to expire on March 20th, is essential for Turkey, which last year relied on Russia for over 45% of its gas supply.
The choice to extend the sanction waiver was made following a telephone conversation between the Turkish Minister of Treasury and Finance, Mehmet Simsek, and the US Secretary of the Treasury, Scott Bessent. The discussion centred on sanctions along with other economic and national security issues.
In November, the US imposed sanctions on Gazprombank to reduce Russia's gas revenue. However, Turkey and Hungary were granted exemptions.
Turkish energy strategy
Turkey has acquired an extension of the US sanctions waiver, permitting the continued importation of Russian gas. This is critical for the country, which imported over 45% of its gas from Russia in 2024. These supplies are necessary given the winter and a decline in hydroelectric energy production.
The TurkStream pipeline conveys Russian gas to Europe. It remains the last pipeline supplying Russian gas to the region and is crucial. With the closure of the route through Ukraine, Turkey has emerged as the primary delivery channel, underscoring its significance for Slovakia and Hungary.
