Turkey can buy and transport Russian oil without Western financing or insurance, Turkish Finance Minister Nureddin Nebati said.
If necessary, Turkey can buy and transport Russian oil without Western financing or insurance, Nebati in an interview with The Wall Street Journal, adding that “in case of any sanctions, Turkey has all necessary capacity in order to develop its own tools to adapt itself to the new situation but without violating any of the sanctions.”
“We need to take the necessary steps in order to supply our needs and also we need to do whatever is necessary in order to protect the interests of our country,” the minister added, Sputnik reported.
Turkey has doubled its imports of Russian oil in 2022, Refinitiv Eikon financial analysis desktop said in August, as the two countries are set for broader cooperation in business and especially energy trade in the face of Western sanctions against Moscow.
Trade between Turkey and Russia has been booming since spring as Turkish companies not banned from dealing with Russian counterparts stepped in to fill the void created by EU businesses leaving Russia after the war in Ukraine.