Türkiye strongly opposes US sanctions on Russian gas because they cannot be replaced in the medium term, Turkish Energy Minister Alparslan Bayraktar said, according to TRT Haber television.
Last week, Washington imposed sanctions on more than 50 Russian financial institutions, including Gazprombank — a bank linked to the gas giant of the same name Gazprom — and six of its international subsidiaries.
The measure cut off Russia's Gazprombank from the international payment system SWIFT.
"We are against any decision that affects the flow of gas from Russia. If the sanctions reach this level, it will harm the Turkish economy, households and 85 million people," Mr. Bayraktar told journalists.
The minister stressed that Türkiye is the fourth largest gas market in Europe and Russia is one of the country's main gas suppliers.
Mr. Bayraktar also said that the above issue is being resolved by the Turkish Finance and Foreign Ministries.
Mr. Bayraktar expressed hope that the five-year contract for gas transit from Russia to Europe via Ukraine, which expires on December 31, 2024, will be extended.
Ukraine has said it has no plans to extend the deal. If Russian gas flows stop, the EU could lose 5% of its total annual consumption.
"The extension of the agreement will have a positive impact on prices on the gas market. In this case, Türkiye is ready to do whatever is necessary, but I think the agreement will still be extended," Bayraktar said, stressing that the issue of payments through Gazprombank is also important for the EU.
Earlier this week, media reports said Ankara was in talks with Washington to secure a sanctions waiver against Russia, allowing Türkiye to continue paying for gas imports from Russia.
Bloomberg quoted Mr. Bayraktar as saying that the latest sanctions “could have very serious consequences” for Türkiye if no exemptions were granted.
Despite being a NATO member, Ankara has not imposed sanctions on Russia and maintains relations with both Moscow and Kiev. Last year, Russian gas supplies to Türkiye accounted for about 45% of the country's gas imports.
