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Novak Comments on Turkey Gas Purchases in Rubles

NATURAL GAS

Comments from Russia’s Novak late last week on plans for Turkey to pay for gas in rubles:

  • "The presidents [Putin and Erdogan] have agreed that we are beginning partial gas supplies and payments for them in rubles,"
  • "We are gradually switching to payments in national currencies, and part of the shipments will be paid for in Russian rubles now. This is a new stage indeed, which opens up new opportunities, including for the development of our monetary and financial relations,"
  • "Our commercial companies and our citizens should have an opportunity to pay [in national currencies] during their tourist trips and in the process of trade turnover,"
  • "the presidents discussed the financial-banking block, on which major agreements have been reached - in fact, we were working today on achieving the goal set by the presidents to bring our trade turnover to $100 billion and to simplify the procedures that enable our businesses to communicate,"
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