*Natural gas imports are key for the country
*Gazprombank is the third-largest bank in the Russian Federation
*TurkStream connection transports gas to other countries in Europe
*Turkish FM criticized the U.S. for not paying attention to the needs of other countries
*Russian and Turkish authorities met to discuss possible solutions
*U.S. sanctions highlight need to work on alternative payment systems to Western ones
*Gazprombank is the third-largest bank in the Russian Federation
*TurkStream connection transports gas to other countries in Europe
*Turkish FM criticized the U.S. for not paying attention to the needs of other countries
*Russian and Turkish authorities met to discuss possible solutions
*U.S. sanctions highlight need to work on alternative payment systems to Western ones
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NewsTranscript
00:00And the United States announced new sanctions against Russia.
00:04These not only threaten Russia's revenues, but also the energy security of several countries,
00:09including Turkey.
00:10Our correspondent Eunice Sonner has the details.
00:15The announcement came from the U.S. Treasury Department on November 21st.
00:20Among other entities, Gazprom Bank was sanctioned.
00:23The sanctions prohibit this bank from interacting with U.S. banks, as well as third parties
00:28with secondary sanctions.
00:32Gazprom Bank has an industrial role here in Turkey.
00:35The Russian companies established in Turkey had problems transferring capital from their
00:39country to Turkey, just like with the transfer of dividends to Russia.
00:46Apart from trade, natural gas imports are key for Turkey, explains Serif Askin Nesimioglu,
00:52energy policy expert.
00:55Turkey imports between 42 and 50 percent of its natural gas consumption from Russia.
01:00This implies a very large payment.
01:04Until now, out of sanctions, Gazprom Bank, which is partly owned by the company Gazprom,
01:09played a key role here, and not only for Turkey.
01:14Turkey has secured its gas consumption through TurkStream.
01:17Here, payment was made through Gazprom Bank.
01:21Russia receives its payment through this entity.
01:26The TurkStream connection transports gas not only to Turkey, but from here to several European
01:31countries, including Serbia, Hungary, Italy and Austria.
01:36Nesimioglu says the decision, which will come into force on December 20th, is generating
01:41reactions.
01:42It may be that the countries do not support the war in Ukraine, but with their decision,
01:48moreover, in winter conditions, putting them in difficult conditions, the United States
01:53has created a club of anti-United States.
01:55We see strong statements there.
01:57Before Parliament's Budget Committee, Turkish Foreign Minister Hakan Fittin criticized the
02:04United States for not paying any attention to the needs of other countries.
02:09Energy Minister Alper Slanberaktar said, if we cannot pay, we cannot receive energy.
02:16Let's see possible solutions.
02:21All parties are going to do their best to solve the problem through bilateral agreements.
02:26Russia has already demonstrated its willingness to do so.
02:30The bill will probably be paid in smaller amounts through different banks.
02:38The Turkish minister demanded an exemption from sanctions from the United States, as
02:43was the case with gas imports from Iran.
02:46At the same time, representatives of the foreign ministries and the ministries of energy,
02:50trade, treasury and the central banks of Russia and Turkey met to discuss possible solutions.
02:59A common bank can be established, and more use can be made of national currencies.
03:05Open accounts or barter can also be used.
03:07In the end, Turkey buys a lot of gas and oil from Russia, but also exports diesel and refined
03:12oil to that country.
03:14In perspective, the expert says that this situation has once again underlined the importance
03:22of working on alternative payment systems to the West, as was discussed at the last
03:26BRICS summit.