Turkish Energy Minister Alparslan Bayraktar said on Tuesday that his country would continue to buy Russian oil.
Turkey relies on Russia for 45% of its gas demand, 17% of its oil and 40% of its gasoline, Bayraktar said on the sidelines of the CERAWeek energy conference.
“People need more oil,” he said. “It has to come from somewhere, from the United States, from Venezuela, from Iran, from Saudi Arabia, or wherever we need it.”
Turkey previously imported about 200,000 bpd of Iranian crude before Washington decided in 2018 that it would pull out of its 2015 nuclear deal with Iran and reinstate sanctions.
“Suddenly, we went down to zero,” Bairaktar said. “And now we can not have another supply disruption, this time in Russia.”
Bayraktar said Turkey could not easily replace Russian oil supplies elsewhere, adding: “They were old, reliable suppliers.”
“I hope this issue of Iran will be resolved soon,” he said, adding that it would make it much easier for Turkey to deal with oil supplies.
Petros Kranias
Source: Capital
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