Turkey can buy and transport Russian oil without the need for Western financing or insurance, said Treasury and Finance Minister Nureddin Nebati.

Nebati was interviewed by The Wall Street Journal during his visit to the United States last week to attend a meeting of G-20 finance ministers and central bank governors and annual meetings of international organizations.

Asked whether Turkish buyers would comply with the G7 countries' demands for a price cap on Russian oil, Nebati said that the price cap has not yet been put into effect.

"We need to take the necessary steps to meet our needs, and also do whatever it takes to protect the interests of our country," Dunya newspaper quoted Nebati as saying.

Stating that "urkey can buy and transport Russian oil without Western financing or insurance, Turkish Finance Minister Nureddin" if necessary, Nebati said 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."

Commenting on the government's economic vision, Nebati stressed that the government intends to implement an economic transformation that will turn Turkey into a manufacturing center.

The minister said they were counting on the weak painfulness of this process. It was the war (situation in Ukraine) that increased the intensity of the pain.