Turkey has a strong dependence on Russian oil and gas, Recep Tayyip Erdogan emphasized shortly after the start of the invasion of Ukraine.
Recep Tayyip Erdogan and Vladimir Putin in Kazan, Russia, October 23, 2024. (POOL / ALEXANDER ZEMLIANICHENKO)
After condemning the Russian invasion from the start, while displaying his neutrality, Turkish President Recep Tayyip Erdogan said on Sunday, November 24, that he wanted the “expansion” of the volume of trade between Turkey and Russia, during a telephone interview with his Russian counterpart Vladimir Putin.
“President Erdogan said he aimed to
increase cooperation between Turkey and Russia in many areas
in particular the expansion of the volume of trade,” said the Turkish presidency in a press release.
Heavy dependence on Russian oil and gas
While quickly condemning the Russian offensive in Ukraine, Turkey opted for neutrality between the two countries and did not join Western sanctions against Moscow. The Turkish president then justified this policy by
Turkey's heavy dependence on Russian oil and gas.
Five Turkish companies were targeted by US sanctions in September 2023 for providing products and services to Russian companies in the defense sector.
In a letter sent in August 2022 to Turkish business circles, the US Deputy Secretary of the Treasury warned Turkish companies of
an “increased risk” for them in the face of “Russia’s attempts to use” Turkey
“to escape sanctions”.
