Exemption from sanctions: Turkey will continue to buy gas from Russia

The US administration has extended an exemption from sanctions restrictions for Turkey, which provides an opportunity to pay for Russian gas supplies. The new exclusion period will last until May 2025. Thanks to this decision, Turkey will be able to continue to purchase gas from Russia until May. Otherwise, the exclusion would have ended today, March 20th. 

Earlier, in November 2024, the US Treasury Department added more than 50 banks from Russia to the sanctions list, including such large organizations as Gazprombank, DOM.RF Bank, BKS Bank and Sinara Investment Bank. However, on December 20, 2024, the Turkish side announced that the American administration had made an exception for Turkey regarding payments through Gazprombank.

Also on December 20, Hungarian Foreign Minister Peter Szijjarto confirmed that the United States had made concessions and made an exception to the recently adopted sanctions to ensure payments for gas supplied through Gazprombank.