Erdogan seeks closer ties with Russia for assistance as the economy puts him under strain

According to Turkish officials, President Recep Tayyip Erdogan is seeking even closer financial ties with Russia as he attempts to stabilize a troubled economy ahead of next year’s elections.

Among his goals are price discounts and lira payments for energy imports, said several Turkish officials who asked not to be identified while discussing sensitive information.

Turkey’s natural gas bill is set to exceed $50 billion this year, and Russia is its biggest energy supplier.

During a meeting with Russia’s Vladimir Putin on Friday, Erdogan will seek a 25% discount for natural gas and an agreement that Turkey can pay some of its bill in lira, said senior Turkish officials with direct knowledge of the matter.

The two countries agreed to start moving to partial payment in rubles, Russian Deputy Prime Minister Alexander Novak said last month. Erdogan and Putin are due to meet for the third time in three months at a multilateral summit in Uzbekistan.

Source: bloomberg.com

Written by: Xhenisa Xhangoli

 

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