Türkiye seeks exemption from US sanctions on Gazprom

ANKARA

Energy and Natural Resources Minister Alparslan Bayraktar emphasized the potential impact of U.S. sanctions on Russian energy company Gazprom, stating that Türkiye could be significantly affected if not granted an exemption.

Addressing press members after a Cabinet meeting in the capital, Ankara, Bayraktar highlighted the critical need for natural gas imports to secure energy supplies and support the country’s industries.

Regarding a question about U.S. Gazprom sanctions potentially affecting Türkiye, Bayraktar answered positively. "Of course, it will. If we cannot make payments, we cannot purchase gas," Bayraktar said, adding that the Foreign Ministry is engaged in ongoing negotiations with the U.S.

Bayraktar drew parallels to past U.S. sanctions on Iran, noting that an exemption was previously granted for natural gas.

"We need a similar exemption now for Russian natural gas. It’s vital for our energy security and industrial needs," he stated.

He expressed concerns about the Biden administration’s stance, highlighting the limited time left to address the issue.

Reminded of the views that the Biden administration has taken steps to “put Trump in a difficult situation,” Bayraktar asserted, “What is between them is none of my business; I need to bring you gas.”

"There is only a month and a half remaining. These embargoes are not simple to lift overnight. If Türkiye is not granted an exemption, the target is not Russia but Türkiye," Bayraktar said.

The U.S. Treasury Department introduced a fresh round of sanctions on Nov. 21, targeting Russia's financial sector to restrict its ability to finance the ongoing war in Ukraine. The measures include sanctions on Gazprombank, the largest remaining Russian bank previously unsanctioned, along with over 50 other Russian banks, more than 40 securities registrars, and 15 finance officials.

Gazprombank has already faced sanctions from other nations, including Australia, Canada, New Zealand and the United Kingdom.

The new sanctions block all property and interests belonging to the targeted institutions, entities or individuals, further restricting their operations.