Trump and G7 increase pressure on Turkey - Can Ankara give up Russian energy and gas?
During a meeting with Turkish President Recep Tayyip Erdogan, Donald Trump demanded that Turkey stop buying oil and gas from Russia. G7 countries have also recently increased pressure on Ankara.
Major Western industrialized nations, including Germany, the United Kingdom, Canada, France, Italy, Japan, and the United States, jointly declared that it was time to "maximize pressure on Russia's oil exports." The move is intended to reduce the revenue Moscow needs for the war.
So far, Turkey has not reacted to Trump's statements or the G7 request. The country is extremely dependent on Russia for energy supplies. According to data from the Turkish Energy Markets Regulatory Authority, 66 percent of Turkey's oil imports and products came from the Kremlin last year. That figure was 41 percent in 2022.
The high import values are a direct consequence of Russia's war of aggression against Ukraine. Turkey is taking advantage of the fact that Russia is under pressure due to EU sanctions and is temporarily offering its oil at up to 15 percent below international market prices. An import ban would not only jeopardize security of supply, but would also eliminate this clear price advantage. Ankara also received 41 percent of its natural gas imports from Moscow in 2024.
Experts do not expect the country to stop receiving energy supplies from the Kremlin in the coming years. Instead, Turkey is pursuing a strategy of diversification. State-owned company BOTAS signed two long-term contracts during Erdogan’s recent visit to the US to expand its natural gas supply. One contract was with US company Mercuria to import 70 billion cubic meters of liquefied natural gas (LNG), while the other was with Woodside Energy for 5.8 billion cubic meters of LNG.
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