Oil & Gas US gives Turkey sanctions waiver for gas payments to Russia By Reuters December 20, 2024, 3:24 PM Alamy/Aleksey Zotov Turkey has been given permission by the US to carry on using Gazprombank to make payments for the gas it buys from Russia US permits use of Gazprombank Russia top supplier of gas The US has given Turkey an exemption from sanctions on Gazprombank for its gas payments to Russia, the Turkish energy minister Alparslan Bayraktar said on Friday. New sanctions on Russia’s Gazprombank were imposed by the US in November, creating an obstacle for buyers of Russian gas, who had been using the bank to make payments. Turkey asks US to allow payments to sanctioned Russian bank Turkey’s Botas signs 10-year LNG deal with TotalEnergies Turkey looks for Exxon LNG deal to replace Russia Buyers, including Turkey, have since been seeking clarification and exploring other ways to pay. Turkey imports almost all its gas requirement, and Russia is the top supplier, providing more than 50 per cent of the country’s pipeline imports. Turkish pipeline gas imports from Russia stood at 21.1 billion cubic metres last year. The country had requested an exemption in discussions with US officials so that it could continue paying for Russian natural gas imports via Gazprombank.
Economy Turkey to get $1bn from World Bank for quake recovery Turkey will receive $1 billion (TL35.43 billion) from the World Bank this year to support the recovery of its earthquake-hit regions, a news report said. The total assistance from the World Bank to Ankara will reach $4 billion since the 2023 earthquakes. The World Bank and the International Finance Corporation work jointly on projects involving […] 3 hours ago
Real Estate Dubai’s Emaar confirms talks to sell stake in Indian unit Emaar Properties, Dubai’s largest developer, has confirmed talks with companies in India, including Adani Group, for a possible stake sale in its Indian subsidiary. The valuation and other terms of a potential transaction are not finalised, the developer said in a Dubai bourse filing on Thursday. The clarification followed a news article by Mint, an […] 2 hours ago
Finance Bahrain’s Investcorp agrees to buy Italy’s Epipoli Bahrain’s Investcorp has finalised a deal to acquire Epipoli, an Italian alternative payments company. The asset will be purchased from London-headquartered private equity Bregal Milestone and Epipoli founder and CEO Gaetano Giannetto. Giannetto will continue to hold a significant minority stake and lead the company. No terms of the transaction were disclosed. Epipoli owns the […] 1 hour ago
Mining Ma’aden signs $1bn contracts to develop industrial cities Saudi mineral giant Ma’aden has signed three contracts worth a combined $922 million with foreign companies to develop a third phosphate fertiliser project. The majority state-owned Saudi mining company announced the agreements in a note to the Saudi bourse on Thursday, coinciding with the final day of the Future Minerals Forum in Riyadh. Ma’aden is […] 13 hours ago
