• Register

Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Exemption from sanctions: Turkey will continue to buy gas from Russia


March, 20 2025
watermark Economic news

The US administration has extended an exemption from sanctions restrictions for Turkey, which provides an opportunity to pay for Russian gas supplies. The new exclusion period will last until May 2025. Thanks to this decision, Turkey will be able to continue to purchase gas from Russia until May. Otherwise, the exclusion would have ended today, March 20th. 


Earlier, in November 2024, the US Treasury Department added more than 50 banks from Russia to the sanctions list, including such large organizations as Gazprombank, DOM.RF Bank, BKS Bank and Sinara Investment Bank. However, on December 20, 2024, the Turkish side announced that the American administration had made an exception for Turkey regarding payments through Gazprombank.


Also on December 20, Hungarian Foreign Minister Peter Szijjarto confirmed that the United States had made concessions and made an exception to the recently adopted sanctions to ensure payments for gas supplied through Gazprombank.


Top Top