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Russia and Turkey reach deal to ditch dollar in trade

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Russia and Turkey reach deal to ditch dollar in trade​

Ankara agrees to pay for some of Russian natural gas supplies in rubles

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Russia and Turkey have reached an agreement in principle to switch some of the payments for Russian natural gas to rubles as part of deepening trade ties between the two countries, the Turkish energy ministry announced on Thursday.
The move to avoid payments in US dollars helps both countries. Russia has called the currency “toxic,” as Western sanctions make it difficult to conduct transactions. It also helps Turkey protect its dwindling hard-currency reserves.
Last week, Turkish President Recep Tayyip Erdogan confirmed that Ankara would start paying for some natural gas imports from Russia in rubles after several hours of talks with his Russian counterpart Vladimir Putin in Sochi.
The two nations also signed a roadmap for economic cooperation that envisages bringing bilateral trade turnover to $100 billion a year. The presidents also discussed a broad range of issues, including Ukrainian grain exports.
Earlier this month, Putin said EU countries should be grateful to Turkey for ensuring a reliable supply of Russian gas to the bloc via the TurkStream pipeline.

The agreements come amid unprecedented Western sanctions on Russia over its military operation in Ukraine. Turkey has refused to join the sanctions, and instead has pushed for truce talks between Moscow and Kiev.

https://www.rt.com/business/560629-turkey-russia-gas-ruble/


 
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What is the new one?
It is known that those who pay in rubles (after conversion to dollars in a Russian bank), also have Russian gas.
And Turkey is the number one country from which the European and American embargo is broken.
How;
Turks or Russian shell companies in Turkey, buy the product from the EU or US, and then they sell and deliver it as Turkish in Russia, a legitimate transaction.
 
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