Turkey talks with US on liquefied natural gas purchase

Turkey is in negotiations with the United States about purchasing liquefied natural gas (LNG) to avoid potential winter interruptions, according to the Turkish newspaper Dunya, citing sources.

Later on Tuesday, the European Commission will propose imposing a price restriction on Russian gas in order to counter the energy crisis and increase sanctions against Russia, according to a European Union source.

G7 finance ministers reiterated last Friday their intention to impose a price cap on Russian oil as part of wider sanctions against the country, and they urged all nations to support the initiative. The price restriction is set to go into effect on December 5 for crude oil and February 5 for Russian refined goods. In response, Moscow promised to stop supplying Russian oil to the countries that would impose the restrictions.

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This comes two weeks after Turkey's business community faced mounting US pressure to sever its growing ties with Russia or risk crushing sanctions as the US grew more concerned that Russian enterprises and the government are using Turkey to get over banking and trade sanctions imposed by the collective West against Russian following the Ukraine war. 

At a conference last month in the Black Sea resort of Sochi, Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan decided to expand their economic cooperation. Through that cooperation, official statistics show that Turkish exports to Russia increased in value from May to July of last year by about 50%.