Turkey Statement by Deputy Prime Minister Aleksandr Novak

Russian Deputy Prime Minister Aleksandr Novak made important statements about the natural gas trade between Turkey and Russia. Novak added that an agreement has been reached to partially switch to the ruble in payments and that the transition to national currencies will be gradual.

Russian Deputy Prime Minister Alexander Novak held a press conference after the talks between Turkish President Recep Tayyip Erdoğan and Russian President Vladimir Putin in Sochi. Stating that the leaders touched on important points in the Sochi talks, Novak said, "Very important decisions were taken today within the framework of negotiations that brought the development of our relations to a new level in trade, economy and almost all sectors." Underlining the instructions given by Erdogan and Putin to increase the trade volume between the two countries to 100 billion dollars, Novak said that the necessary steps were taken one by one to simplify the necessary procedures to increase the volume in question. Aleksandr Novak noted that there will be great developments in cooperation between Russia and Turkey, especially in the fields of transportation, industry, agriculture, tourism and information technologies. Russian Deputy Prime Minister Aleksandr Novak made the following statements: "The issue of natural gas, which is delivered to Turkey in a significant volume - 26 billion cubic meters per year, was discussed. During the talks, the leaders agreed that gas deliveries will be partially paid in rubles. We are talking about a gradual transition to national currencies, and at the first stage some supplies will be paid in Russian rubles."

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