Skip to content Skip to Search
Skip navigation

Turkey and Russia to discuss gas and grain deals

By Pramod Kumar
Turkey's President Tayyip Erdoğan and Russia's President Vladimir Putin at a meeting in Uzbekistan in 2022 Reuters/Sputnik/Alexander Demyanchuk
Turkey's President Tayyip Erdoğan and Russia's President Vladimir Putin at a meeting in Uzbekistan in 2022

Turkey’s President Recep Tayyip Erdoğan and his Russian counterpart Vladimir Putin are to discuss a gas hub project and Black Sea grain exports during their upcoming meeting in Ankara, according to a media report.

Although foreign minister Hakan Fidan did not confirm a date for the trip, reports suggest Putin will visit Ankara next week, Daily Sabah newspaper wrote.

At a press conference in Malta, the minister said Turkey was working with Ukraine and Russia to revive the Black Sea grain initiative.

The grain pact allowed the export of Ukrainian grain via the Black Sea during the Russia-Ukraine conflict. However, Russia withdrew from the agreement in July 2023.

Earlier, Kremlin spokesperson Dmitry Peskov said Putin plans to discuss the planned gas hub in Turkey during his trip.

The Russian leader proposed establishing a regional gas platform in Turkey in 2022 to redirect Russian gas exports after a significant decrease in European shipments following the Ukraine war.

Furthermore, Turkey aims to negotiate discounts on natural gas with Russia, one of its top energy suppliers, Russian state news agency Tass said.

Turkey’s energy and natural resources minister, Alparslan Bayraktar, has also confirmed that Ankara is counting on securing a discount on Russian gas and reaching a mutual understanding on the issue.

Erdoğan and Putin last met in the Russian city of Sochi in September 2023.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]