Russia Makes Crucial Decision Regarding Turkey

Russia has made a critically important decision concerning Turkey. According to Yeni Cağ, Russia has decided not to charge interest to Turkey for the delay in export loan payments.

The delay in payments is attributed to Western sanctions, a situation beyond Turkey’s control. It is noted that with this gesture of goodwill, Moscow aims to strengthen trust in its relations with Ankara.

Turkey has received a state loan of $726 million from Russia and has efficiently met all its obligations until 2022. However, due to Western sanctions against Russia, Turkey was unable to make payments of $111 million in 2022 and 2023 for reasons beyond its control.

In September 2023, Ankara fully settled its debt, but despite this, Moscow, according to the terms of the agreement, has the right to impose a penalty of about $17 million. Member of Parliament Vyacheslav Nikonov noted that the penalty amount is negligible compared to the volume of trade and economic relations between Russia and Turkey, which stands at $57 billion, and he regarded this decision as a sign of friendship and economic cooperation.