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Investing.com -- Turkey is making efforts to extend a waiver it obtained from the United States, which would permit the country to keep purchasing natural gas from Russia, according to a Bloomberg report on Thursday.
The waiver, which was granted to Turkey in December to avoid sanctions on Gazprombank JSC, has not had its expiration date disclosed publicly by the Turkish government. However, according to Bloomberg, the waiver is set to expire on March 20, and Ankara is now taking steps to prolong it.
Russia was the source of over 45% of Turkey’s gas imports in the previous year, as per calculations conducted by Bloomberg using data from the national energy regulator. These gas supplies have proven to be vital during an unusually cold winter and are expected to remain crucial in the summer due to anticipated decreases in hydropower generation.
Mehmet Simsek, Turkey’s Treasury and Finance Minister, is reportedly expected to have a call with US Treasury Secretary Scott Bessent this week to formally request the extension of the waiver.
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