Türkiye Seeks Exemption from US Sanctions on Gazprombank to Ensure Gas Supply Security

Last week, the US announced sanctions against 118 individuals and entities tied to Russia's financial sector, including Gazprombank, the country's largest remaining bank yet to be blocked by Washington.

Photo: Daily Sabah

Ankara wants exemption from US sanctions on Gazprombank, said Turkish Energy and Natural Resources Minister Alparslan Bayraktar, explaining such measures would jeopardize the country's gas supply security.

The Turkish Foreign Ministry is currently in negotiations, Bayraktar told reporters late Monday ahead of a Cabinet meeting in the Turkish capital Ankara, adding that without being able to make payments, gas purchase will not be possible, The Caspian Post reports, citing Turkish media.

As winter approaches, Türkiye's industries require a secure gas supply and Russian gas plays an important role, Bayraktar said.

Noting that previous Iran sanctions included a natural gas exemption, Bayraktar said: 'We seek a similar exemption from the US.'

Bayraktar noted that the Biden administration made this decision about 1.5 months before President-elect Donald Trump is set to take office, adding, 'We don't understand the Biden administration's timing.'

'The problem is that lifting these sanctions is not something that can be done overnight,' he added.

Aside from Russia, Türkiye is directly affected by this decision, Bayraktar said adding that the country's supply security is at risk.

Last week, the US announced sanctions against 118 individuals and entities tied to Russia's financial sector, including Gazprombank, the country's largest remaining bank yet to be blocked by Washington.

'Today's action reaffirms the US commitment to curtail Russia's ability to use the international financial system to conduct its war against Ukraine and disrupts Russia's attempts to make cross-border payments for dual-use goods and military materiel,' State Department spokesperson Matthew Miller previously said in a statement.

The announcement came amid reports that the Biden administration authorized Ukraine to use long-range US missiles to target deep within Russia.