Turkey started to partially pay for Russian gas in rubles currency

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Turkey has started paying for part of Russian gas in rubles currency, in the coming months the share of payments in rubles in energy trade with Russia will increase, the Minister of Energy of Turkey, Fatih Donmez stated, Reuters reported.

Russia, hit by Western sanctions for its invasion of Ukraine, is increasingly asking buyers of its energy to pay in rubles to help shore up its currency, Although most international energy agreements are concluded in US dollars or euros.

In September, Ankara and Moscow agreed on the beginning of ruble payments for the supply of natural gas.
Asked about Russian President Vladimir Putin’s proposal to establish a gas hub in Turkey, Donmez said Ankara will develop a road map by the end of this year and may hold a conference for suppliers and buyers.

Last month, Putin proposed Turkey as a base for gas supplies as an alternative route after the Nord Stream pipelines were damaged by explosions. Turkish President Tayyip Erdogan said he agreed with the idea.

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