Ankara (Agencies): The United States has granted Turkey a three-month extension on its sanctions waiver, allowing the country to continue paying for Russian natural gas through Gazprombank, a Russian financial institution currently under U.S. sanctions. The decision ensures that Turkey—heavily reliant on Russian energy—can maintain its gas payments without disruption, a senior Turkish official confirmed.
Turkey initially received the waiver in December 2024 after Gazprombank was sanctioned in late November. The U.S. Treasury had previously refrained from targeting the bank due to its crucial role in processing payments for European nations still dependent on Russian energy. Similar to Turkey, several European countries have continued using Gazprombank to facilitate their energy transactions.
As a country that imports nearly all of its natural gas, Turkey sources a significant portion from Russia. In November, Ankara formally requested the waiver to maintain payments through Gazprombank while holding negotiations with Russian officials on the future of energy cooperation. The waiver extension reflects Turkey’s efforts to balance its strategic energy needs while adhering to international sanctions frameworks.
The extension follows high-level discussions earlier this week between U.S. Treasury Secretary Scott Bessent and Turkish Finance Minister Mehmet ?im?ek. The meeting addressed not only energy-related sanctions but also broader economic and security issues. Washington reiterated its stance on countering Iran’s nuclear and missile programs and addressing Tehran’s alleged support for terrorism.
Hungary, another nation still dependent on Russian gas, has received a similar waiver from the U.S., allowing it to continue payments through Gazprombank for energy supplies via the TurkStream pipeline. Unlike most EU members that have distanced themselves from Moscow, Hungary maintains close ties with Russia, with its leadership frequently engaging in diplomatic meetings with President Vladimir Putin.
The waiver extensions granted to Turkey and Hungary highlight the geopolitical complexities of global energy security, as both nations attempt to navigate Western sanctions while ensuring uninterrupted access to critical natural gas supplies.