Turkey Requests Extension of Waiver from the U.S. for Russian Natural Gas Imports

Investing.com -- According to Bloomberg's report on Thursday, Turkey is making efforts to extend the exemption it received from the United States, allowing it to continue importing natural gas from Russia. The Turkish government's announcement of the deadline has not been made public, but Bloomberg indicates that the exemption granted in December to avoid sanctions on Gazprombank JSC will expire on March 20, and Ankara is now taking steps to extend it.

Bloomberg's calculations, based on data from the national energy regulator, show that over 45% of Turkey's natural gas imports came from Russia last year. This gas supply was crucial during an unusually cold winter and will continue to be essential in the summer due to anticipated declines in hydroelectric production. Turkey's Treasury and Finance Minister Mehmet Şimşek is expected to meet with U.S. Treasury Secretary Scott Bessent this week to formally request the extension of the exemption.