Turkey has secured an extension of its sanctions waiver from the United States, allowing continued payments for Russian natural gas despite ongoing economic restrictions targeting Moscow. The waiver, originally set to expire on March 20, has been prolonged until May 2025, providing Turkey with crucial flexibility in managing its energy imports.
The decision follows high-level discussions between Turkish Treasury and Finance Minister Mehmet Şimşek and U.S. Treasury Secretary Scott Bessent. Amid tightening Western sanctions against Russia due to the ongoing conflict in Ukraine, Ankara has emphasized its reliance on Russian gas, which accounted for over 45% of Turkey’s total gas imports last year.
In November 2024, the U.S. imposed sanctions on Gazprombank, a key financial institution facilitating Russian energy payments, in an effort to curb Russia’s gas revenues. However, key importers such as Turkey and Hungary were granted temporary exemptions to prevent energy supply disruptions. The latest extension acknowledges Turkey’s strategic energy needs, particularly as reduced hydropower generation increases reliance on natural gas.
“We welcome this decision, which ensures our energy security and stability in gas supplies,” a Turkish government official said, adding that negotiations will continue for further accommodations.
The waiver’s extension underscores the complex geopolitical dynamics surrounding energy trade, as Turkey balances its relations with both Western allies and Russia. While Ankara has supported Ukraine’s sovereignty, it has maintained robust economic ties with Moscow, particularly in energy cooperation.
Despite this waiver, Turkey continues to explore diversification strategies to reduce its long-term dependence on Russian gas, including investments in renewable energy and new gas import agreements with Azerbaijan and the Eastern Mediterranean region.
