President Erdoğan met with Russian President Putin in Sochi in early August. Both had agreed to expand economic cooperation, including in the energy sector. The meeting caused a stir, especially when the government in Ankara confirmed that Turkey intends to pay for part of Russian natural gas supplies in rubles in the future and that it intends to make greater use of the Russian Mir payment system. According to Turkish information, the use of “Mir” will also make it easier for Russian tourists to stay in Turkey.
The Turkish economy is on the verge of collapse, inflation was officially at almost 80 percent. Experts estimate that the true value is even twice as high. Now reports financial news service Bloomberg, paying some of Russia’s imported gas in rubles is a relief for Turkish policymakers to keep the lira stable and stave off another wave of price hikes ahead of next year’s elections. The Turkish leader wants to deepen economic ties with Russia at a time when Western companies are being forced to leave the country without provoking an open break with traditional NATO allies, comments Bloomberg further.
The meeting between the Turkish leader and Putin took place three weeks after their meeting in Iran. The deepening of relations between the two countries worries Western countries. Punitive measures against Turkey are also being discussed behind the scenes Financial Times. So far, however, there have been no official talks about such measures for Turkey.
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