Sochi talks: Rubles used for partial payment of Russian gas

By Al Mayadeen English
Source: Agencies
5 Aug 2022 21:35

Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan released a joint statement following the talks in Sochi.

Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan Sochi talks

Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan released a joint statement following the talks in Sochi confirming their mutual agreement to work together towards the preservation of Syrian territorial integrity.

The statement read that "The parties confirmed that they attached great importance to advancing the political process. The importance of maintaining the political unity and territorial integrity of Syria was outlined. The determination to act jointly and in close coordination with each other in combating all terrorist organizations was confirmed again."

Putin and Erdogan, in the same statement, also announced their commitment to the sovereignty, territorial integrity, and national unity of Libya.

"A strong commitment was declared to the sovereignty, territorial integrity, and national unity of Libya. The parties outlined the importance of holding free, fair, and credible elections based on the broadest possible consensus and reaffirmed their support for the ongoing political process based on the primacy of the Libyans themselves and under their leadership," the statement read.

According to Russian Deputy Prime Minister Alexander Novak, the two Presidents have moreover agreed to begin partial payment for Russian gas deliveries to Turkey in rubles.

"Gas deliveries to the Republic of Turkey were discussed, which are supplied in a fairly large volume: 26 billion cubic meters annually. During the negotiations, the presidents agreed that we would begin partial payments for gas supplies in rubles," Novak told reporters.

Novak highlighted that the significance of this step is that "we are talking about the transition to national currencies gradually, and at the first stage, part of the supplies will be paid in Russian rubles," adding that "This is really a new stage, new opportunities, including for the development of our monetary and financial relations."

The negotiations resulted in very important decisions, which raise Russia-Turkey economic cooperation to a new level, according to Novak.

Novak stated that this encompassed the transportation industry, agriculture, tourism, information technology, housing, and utilities.

When asked by a Sputnik reporter whether the two presidents discussed the sale of or development of a Russsian-produced Bayraktar, Kremlin spokesman Dmitry Peskov responded "No."

The joint statement also stated that the Turkish President agreed that the next meeting of the High-Level Cooperation Council is held in Turkey.

Finally, the presidents emphasized the critical need for honest, open, and trusting relationships in ensuring international security.