Putin & Erdogan discuss trade as Turkey agrees to pay in rubles for part of Russian gas

Russian President Vlimir Putin held a meeting with Turkish President Recep Tayyip Erdogan in Sochi. Putin and Erdogan discussed gas supply to Turkey and have agreed on ruble payment for part of Russian natural gas, Russian Deputy Prime Minister Alexander Novak said on Friday after talks between two leers, Sputnik reported. Novak stated that part of gas will be paid in Russian rubles in first stage and called it a "new stage", including for "development of monetary and financial relations."

Russia supplies natural gas to Turkey through two major pipelines - Blue Stream and TurkStream. pipelines, operating under Black Sea, have a capacity of more than 46 billion cubic meters of gas per year. In 2021, Russia accounted for around 45% of Turkey's natural gas imports and two nations want to expand ir cooperation in energy sector, as per Sputnik report. Alexander Novak informed that Russian President Putin and his Turkish counterpart Erdogan have also me "big agreements" in banking sector. He noted that "very important decisions" were me regarding tre and economy in nearly all sectors to a "new level." During meeting in Sochi, Erdogan and Putin discussed a range of issues, including situation in Ukraine and Syria as well as grain exports. 

Putin lauds efforts of Erdogan for resumption of Ukrainian grain exports

Ahe of meeting, Putin lauded efforts of Erdogan for resumption of Ukrainian grain exports from ports of Black Sea, according to statement released on Kremlin website. Notably, Ukraine and Russia agreed for a deal to resume export of grains from Ukrainian ports. Meanwhile, Turkish President Recep Tayyip Erdogan emphasised that delegations of Russia and Turkey have held a meeting and called ir meetings "very productive." 

According to Erdogan, delegations of Turkey and Russia discussed a range of issues, including economy and tre. Before his meeting with Putin, Erdogan called for focusing more on fighting terrorism and stressed that steps taken by Turkey and Russia to counter-terrorism will help to strengn ties between two nations. He stated that 10% of Turkey's energy needs will be fulfilled by Akkuyu Nuclear Power Plant and called it of "great importance." He said that work on Akkuyu Nuclear Power Plant continues as per schedule and it will be completed in time. 

Image: AP