US extends Türkiye’s Russian gas sanctions waiver until May

Türkiye will continue to be exempt from U.S. sanctions on Russian natural gas purchases for an additional period, a Turkish official with direct knowledge of the matter confirmed Thursday, Bloomberg reported.

The United States has agreed to extend the sanctions waiver, which was set to expire March 20, allowing Türkiye to maintain its critical energy imports from Russia until May.

The three-month exemption comes as Türkiye remains heavily dependent on Russian gas supplies, which accounted for more than 45% of the country’s gas imports last year, according to Bloomberg calculations based on national energy regulator data.

The extension reflects the practical realities of Türkiye’s energy needs, particularly following a colder-than-usual winter. Officials expect the Russian supplies to remain essential through summer months when hydropower generation is forecast to decline.

High-level US-Türkiye talks precede waiver extension decision

Earlier this week, Turkish Treasury and Finance Minister Mehmet Simsek and U.S. Treasury Secretary Scott Bessent held a phone conversation where they “discussed sanctions, as well as other economic and national security issues of mutual concern,” according to a statement from the U.S. Treasury Department.

The sanctions waiver issue stems from U.S. measures imposed in November against Gazprombank, a key financial institution handling energy payments, as part of Washington’s broader strategy to reduce Russia’s gas revenues. However, major importers including Türkiye and Hungary were later granted exemptions.

When approached for comment, Türkiye’s Treasury and Finance Ministry and the Ministry of Energy and Natural Resources declined to respond. The U.S. embassy in Ankara directed inquiries to the Treasury Department, which did not immediately reply to requests outside normal business hours.