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Putin and Erdogan agree on cooperation, some ruble payments for gas

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Russian President Vladimir Putin (right) shakes hands with Trkiye Chairman Recep Tayyip Erdogan (left) during a meeting in Sochi, Russia, August 5, 2022. /CFP

Russian President Vladimir Putin (right) shakes hands with Trkiye Chairman Recep Tayyip Erdogan (left) during a meeting in Sochi, Russia, August 5, 2022. /CFP

Russian President Vladimir Putin and Trikiye Chairman Tayyip Erdogan agreed on Friday to strengthen cooperation in the transport, agriculture, finance and construction sectors, they said in a joint statement after a four hour meeting.

Trkiye brokered an agreement signed by Ukraine, Russia and the United Nations in Istanbul last month under which grain exports from Ukraine’s Black Sea ports resumed after months of lockdown.

In the statement, Putin and Erdogan stressed the need for “the full implementation of the Istanbul agreement, including the unhindered export of Russian grain, fertilizers and raw materials for their production.”

The two leaders also agreed to transfer part of the payments for Russian gas into rubles, Russian Deputy Prime Minister Alexander Novak told reporters after the talks.

“This is really a new stage; new opportunities, including for the further development of our financial relations,” Novak said, Russia Today (RT) reported on Friday.

Putin said Russia provides all types of energy resources, including oil, gas and coal to Trkiye in a stable and predictable manner and “without any interruption”, according to RT.

He said trade volumes between the two countries increased by 57% in 2021 and doubled in the first five months of this year.

(Source: Reuters with modifications)

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