Türkiye protests latest US sanctions against Russia

Türkiye is currently in talks with the US to secure a sanctions waiver that would allow it to continue using Russia’s Gazprombank to pay for natural gas imports, the country’s Energy Minister Alparslan Bayraktar told reporters on Monday.

Last week, the US Treasury Department imposed restrictions on more than 50 Russian financial institutions, including Gazprombank, which is linked to the eponymous Russian gas giant, and six of its international subsidiaries. The sanctions have effectively cut off Russia’s primary bank for energy-related transactions from the SWIFT interbank messaging system, meaning it can no longer be used for dollar-based transactions.

According to Bayraktar, unless a special exemption is made, Türkiye, which imports nearly all of its gas, won’t be able to pay Moscow for natural resources. Russia currently accounts for more than 50% of the country’s pipeline imports, according to Reuters.

In his comments, Bayraktar pointed to a previous waiver granted to Ankara when Washington had sanctioned Iran in 2012. At the time, the sanctions against Tehran included a clause that allowed the US President to issue a special exemption if an oil-importing country faced “exceptional circumstances” that made it impossible to reduce Iranian oil imports. Bayraktar has argued that Türkiye now needs a similar waiver for Gazprombank in order to secure its supply of natural gas.

“These sanctions will affect Turkey. We cannot pay. If we cannot pay, we cannot buy the goods. The foreign ministry is in talks,” Bayraktar said.

The latest US sanctions have also sparked disdain among several other European buyers of Russian gas. Last week, Hungarian Foreign Minister Peter Szijjarto accused Washington of trying to undermine energy security in the Central European region by imposing restrictions on Gazprombank.

In a post on Facebook, the diplomat stated that any attempts to jeopardize energy supplies to Hungary are “considered as an offence against our sovereignty” and stressed that Budapest denounces all such attacks and has vowed to “resist the pressure and pursue our national interests.”

He added that Hungary is currently in talks with other countries, such as Bulgaria, Serbia, Azerbaijan and Slovakia in hopes of finding a solution for securing energy supplies.

Meanwhile, despite the EU announcing plans to eliminate its dependence on Russian energy, it has remained one of the world’s major importers of Russian fossil fuels while its members have purchased record volumes of liquified natural gas (LNG) from Moscow.