Bloomberg: Turkey asked Russia to defer part of gas payments

MOSCOW, 3 Oct — PRIME. Turkey has asked Russia to defer part of Ankara’s natural gas payments until 2024 in an attempt to mitigate the economic damage from higher energy prices, Bloomberg reported, citing people familiar with the situation.

“Turkish state-owned energy importer Boru Hatlari ile Petrol Tasima AS, or Botas, is seeking to defer part of the payments until 2024,” the agency writes, citing an anonymous source. Bloomberg’s sources note that it is not yet clear whether the talks will lead to any agreement.

Turkey’s heavy reliance on energy imports has increased pressure on its currency and budget, according to Bloomberg. The agency writes that the Turkish lira has depreciated more than 28% against the dollar since the beginning of the year, which is the largest among emerging markets after the Argentine peso. At the same time, the agency notes, Turkey’s trade deficit in August more than doubled compared to the same month a year earlier and amounted to $11.2 billion.

Earlier on Monday, it became known that the Hungarian energy company MVM concluded an agreement with Gazprom to defer payment for gas due to sharp fluctuations in prices.

In addition, earlier Bloomberg wrote that Turkish President Erdogan will seek a 25% discount on Russian “blue fuel”. Later, an agreement was concluded between Russia and Turkey that Ankara would pay for 25 percent of Russian gas supplied to Turkey in rubles.