December 02
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Turkish officials have asked Russia to delay a portion of Ankara’s payments due for natural gas, according to people familiar with the matter, as Turkey seeks to mitigate economic damage from higher energy prices, Bloomberg reported.

Turkey’s state-run energy importer Boru Hatlari ile Petrol Tasima AS, or Botas, is seeking to postpone some of the payments to 2024, according to one of the people, who spoke on condition of anonymity as the payment discussions are private. The talks come on the heels of a deal between the two countries that permits Botas to pay 25% of its obligations in rubles rather than dollars.

According to the sources, it is not yet clear whether an agreement will be reached during these negotiations.

According to a source familiar with Gazprom's position, Turkey has not officially petitioned to the company, and the latter will not discuss the delay matter until it receives an offer.

Turkey's heavy dependence on energy imports has increased pressure on its currency and budget. The Turkish lira depreciated by more than 28 percent against the US dollar in 2022, and in August its trade deficit more than doubled to $11.2 billion, compared to the same month last year.

Last month, Turkish President Recep Tayyip Erdogan said he discussed natural gas prices with Russian President Vladimir Putin and hoped to get a discount.

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