Turkey Partially Switches to Ruble Payments for Russian Gas Supplies

Turkey's Ministry of Energy has announced that the country has partially transitioned to paying for Russian gas supplies in rubles. The ministry noted that storage facilities are fully stocked.

In mid-September, Vladimir Putin and Recep Tayyip Erdoğan agreed that Turkey would pay 25 percent of its gas supplies in rubles. On October 12, during the Russian Energy Week, Putin suggested redirecting transit from the "Nord Streams" to the Black Sea region and establishing Turkey as a major gas hub for supplies to Europe.

Erdoğan stated that he has tasked officials to quickly commence work on this idea.