Ankara is considering abandoning the dollar and switching to the national currency when buying oil and gas from Russia.
Turkey plans to abandon the dollar in payments for Russian energy resources and switch to the national currency – the lira, according to Bloomberg.
The news agency said that Turkish President Recep Tayyip Erdogan may discuss this issue during a meeting with Russian President Vladimir Putin in the Iranian capital Tehran.
The report says that according to one of the Turkish officials, Ankara plans to abandon the dollar when it settles in Russia and, as an option, offers the lira. Moscow can also use the Turkish currency to export goods and services from Turkey.
Another Bloomberg source said countries may use the ruble in payments.
“Russia remains an important source of energy supply for Turkey. It provided a quarter of Turkey’s crude oil imports and about 45% of its natural gas purchases last year, giving Moscow has a large positive balance in bilateral trade,” the news agency said.
In 2021, Turkey’s exports to Russia will reach $6.5 billion and imports will be $29 billion.
Remember, according to Ukrainian Foreign Minister Dmitry Kuleba, Turkey is playing a difficult balancing game. In particular, he is helping Ukraine unblock ports for grain exports and showing he is ready to help Russia.
In addition, Turkish President Recep Tayyip Erdogan discussed by phone with his Russian counterpart Vladimir Putin the creation of corridors in the Black Sea for the export of grain from Ukraine.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.