Turkey – Russia trade / post-Ukraine sanctions

Natural gas re-export

In 2023, Botas signed natural gas re–export deals with Moldova (700mn cubic metres (mcm)/year), Romania (1.5 bcm/year), Bulgaria (1.5 bcm/year) and Hungary (275 mcm/year): https://pro.intellinews.com/turkey-s-botas-denies-debt-owed-to-gazprom-stands-at-27-5bn-297412/?source=turkey

Turkey’s government claims that it is on course to produce significant volumes of gas from fields found off the Black Sea coast.

LNG re-exports: https://www.ekonomim.com/gundem/kanun-teklifi-mecliste-dogal-gaz-turkiyede-sivilastirilarak-dunyaya-lng-olarak-pazarlanabilecek-haberi-727226

LNG-re-exports: https://www.bloomberght.com/enerji-alanindaki-kanun-teklifi-komisyonda-kabul-edildi-2346836

Bulgaria

In January 2023, Bulgarian public gas supplier Bulgargaz signed a 13-year agreement with Botas, enabling annual imports of 1.5bn cubic metres of gas via the Turkish transmission infrastructure and LNG terminals.

October 2023, European Commission launches probe into Bulgaria-Turkey gas supply deal: https://www.icis.com/explore/resources/news/2023/10/19/10935461/european-commission-launches-probe-into-bulgaria-turkey-gas-supply-deal/

In January 2024, Bulgarian state-owned gas transmission operator Bulgartransgaz signed an operational agreement with Turkish peer Botas for interconnection between the countries’ gas transmission systems at the Strandzha-Malkoclar point.

April 2024, Bulgaria’s parliament will send to prosecution all materials related to an agreement between state-owned gas supplier Bulgargaz and its Turkish peer, Botas, for 13-year supply of natural gas, a temporary parliamentary committee decided on April 11.

The 13-year agreement was signed in January 2023 by the then pro-Russian caretaker government of Gulub Donev.: https://pro.intellinews.com/bulgaria-s-parliament-to-refer-to-prosecution-deal-with-turkey-s-botas-on-gas-delivery-320742/?source=turkey

Bulgaria’s parliament decided on April 19 to send the contract between state-owned gas operator Bulgartransgaz and Turkish Botas to the prosecution and the national security agency, DANS.: https://pro.intellinews.com/bulgaria-refers-contract-with-turkish-botas-to-prosecution-national-security-agency-321924/?source=turkey

Hungary

February 2024, Hungary’s state energy giant MVM and Turkiye’s BOTAS have finalised the details of a gas delivery contract for the delivery of 275 mcn of gas starting in the second quarter, Minister of Foreign Affairs and Trade Peter Szijjárto said after the Hungarian-Turkish Joint Economic Commission meeting in Ankara: https://pro.intellinews.com/hungary-and-turkey-finalise-gas-agreement-312741/?source=turkey

February 2024, Turkey’s government-run Anadolu Agency quotes Hungary’s Foreign Affairs and Trade Minister Peter Szijjarto as saying: ‘Azerbaijani gas’ to be piped to Hungary via Turkey: https://pro.intellinews.com/azerbaijani-gas-to-be-piped-to-hungary-via-turkey-says-minister-312850/?source=turkey

It seems that Hungary will receive the gas with a ‘Made in Azerbaijan’ label on it.

May 2024, Turkey has started shipping gas to Hungary through the Southeast Europe pipeline network that connects with Turkey’s system at the Bulgaria-Turkey border: https://pro.intellinews.com/turkey-seeks-lng-from-exxonmobil-starts-pipeline-gas-stream-to-hungary-323215/?source=turkey

Oil

January 2024, “Masked Russian oil” supplied via Turkey’s Dortyol trans-shipment terminal has even ended up in US warships after being processed at a Greek refinery, according to US senators cited by the Financial Times: https://pro.intellinews.com/masked-russian-oil-supplied-via-turkish-terminal-has-even-ended-up-in-us-warships-claim-senators-310225/?source=turkey

Diesel

March 2024: https://pro.intellinews.com/russian-diesel-exports-up-by-a-fifth-to-978-000-tonnes-317998/?source=turkey

LPG

Liquefied petroleum gas (LPG) exports to Turkey from Russia doubled in 2023.

Coal

Turkey alone offset the decline in Russian coal imports to Germany, Italy, Spain, Ireland and Belgium: https://pro.intellinews.com/cheap-coal-from-putin-fires-turkey-up-the-dirty-power-generation-league-317337/?source=turkey

Wheat

February 2024, Russian wheat importer Turkey becomes a wheat exporter: https://pro.intellinews.com/istanbul-blog-russian-wheat-importer-turkey-becomes-a-wheat-exporter-310397/?source=turkey

Gold

February 2024, Some Russian banks, including Lanta Bank (whose owners control gold miner GV Gold) and at least one lender that is not sanctioned, have manoeuvred around a ban on shipping dollars and euros to Russia by trading gold (more than the equivalent of $82mn in euros, dollars and UAE dirhams) in the United Arab Emirates and Turkey: https://pro.intellinews.com/financial-intelligence-reportedly-indicates-russian-banks-swapped-gold-for-dollars-via-uae-turkey-operations-311608/?source=turkey