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“The relationship has been tilted towards Russia because Turkish goods are easier to replace for Russia than Russian imports for Turkey. That has changed significantly in the last two or three years based on developments in the natural gas market that Turkey has taken advantage of strategically, becoming a transit territory of gas not just from Russia but also Azerbaijan. Turkey has also built LNG [liquefied natural gas] terminals and is importing a lot of LNG, which has increased its position vis-a-vis Russia. Russia can't afford to lose Turkey either as a transit territory or a market for gas. Turkey sees that and is able to extract benefits from it.”
20 Apr 2021
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