Turkey is seeking a discount on gas prices after cosying up to Russia

Turkey is seeking a discount on gas prices and a deferral in payments according to the Minister of Treasury and Finance spokesperson Nureddin Nebati.

The Russian news agency TASS reported on Tuesday, October 25 that had approached Gazprom to see whether it was possible to defer payments and to bring the price of gas down.

Nebati claimed that Ankara is constantly looking for discounts on the large amount of gas that it buys from Moscow. He added that they also were looking for ways to defer payment and expected “good news” on both fronts.

Turkey’s President Recep Tayyip Erdogan met with Russia’s Vladimir Putin on the side lines of the summit of the Shanghai Cooperation Organisation meeting in September. At the time they agreed that Turkey would pay 25 per cent of its account in roubles, going against the refusal by European nations to accede to the request.

News agency Bloomberg reported earlier this month that Turkey was looking to delay payment until 2024, however the information has never been confirmed. Sources in Ankara then reported that such an issue in the gas talks was not on the agenda. 

Erdogan has been under pressure in Turkey with the country experiencing very high inflation and a stagnating economy. Such a deal will increase Turkey’s reliance on Russia and at the same time Russia’s influence over the country, although history shows that Erdogan is also unpredictable and not one to bow to any external pressure. 

The news that Turkey is seeking a discount on gas prices and the possibility of deferring payments provides more context to recent efforts by Erdogan to play mediator in the conflict in Ukraine.

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