Discover and read the best of Twitter Threads about #Turkey_Russia
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#Turkey_Russia: Payment for Russian gas is already being made in rubles. At this point, the ruble part of the payment is small, but the process will speed up. In September, Erdogan and Putin agreed that 25% of the gas coming from Russia will be paid for in rubles. In 2021,⤵️
Turkey imported 45% of Russia's gas (26.5 bcm), followed by Azerbaijan and Iraq, all through pipelines. LNG is also imported by Turkey, mainly from Nigeria and Algeria. Russia's decision to pressure Turkey to buy gas in rubles is part of the de-dollarization strategy.⤵️
Russia intends to increase the gas delivered to Turkey, as it has stopped supply to Europe through NS1 and may stop transport through Ukraine.⤵️
#Turkey_Russia: One of the most complex and efficient foreign policies towards Russia has (apparently) only Turkey. Here are my main points: 1) Erdogan may be hanging out with Putin, but he is also openly criticizing Russia's aggression against Ukraine; ⤵️
2) Due to Russia's isolation from Western sanctions and the rest who distance themselves from themselves, Erdogan remains close to Putin, calling him his "friend", but also holding him responsible for Ukraine (2022) and Crimea (2014 ). Furthermore, he wants Putin to return all⤵️
occupied lands to Ukraine, including Crimea. No other international leader has this ability to manoeuvre between rocks and water like Erdogan or strategic interest (referring to Xi Jinping's laissez-faire approach); 3) Erdogan is calculating his steps, without⤵️
#Turkey_Russia: The race to reduce the price of Russian gas began: Erdogan has announced that Turkey wants a 25% discount on the price for pipeline gas. On top of that, he wants the payment to be made in troubled Turkish lira to save the country's dollar reserve.⤵️
Putin has yet to respond, but he is weakened and too reliant on Turkey to simply reject Erdogan's request. If Russia makes gas cheaper, then others from the Global South will flock with a similar request (Russian budget is already loosing revenues because of the ⤵️
self-initiated gas war against the EU).Abandoning Erdogan doesn't help either. That means a middle ground must be found to keep both parties happy. It may be that Russia limits the discount to 10-15% and ties it to some conditions, such as accepting payment via Mir payment ⤵️
