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Turkiye will buy more oil and gas from Iran, Erdogan announces

July 26, 2022 at 7:59 pm

Turkish President Recep Tayyip Erdogan on July 23, 2022 [Mustafa Kamacı/Anadolu Agency]

Turkiye aims to increase its purchases of Iranian oil and gas amid greater energy needs and developing ties between the two countries, President Recep Tayyip Erdogan has said.

The Turkish President made the announcement in an interview with the state-owned broadcaster, TRT Haber, yesterday, stating that “Turkiye will increase its purchases of oil and natural gas from Iran”, noting that the trade volume between Ankara and Tehran could reach $30 billion.

Erdogan’s announcement came a week after his meeting with his Iranian and Russian counterparts, Ebrahim Raisi and Vladimir Putin in Tehran, in which Turkiye and Iran specifically signed eight memoranda of understanding and cooperation in fields such as media, business and investment and economy.

It also comes at a time when the two countries are developing closer bilateral ties, despite their differences in foreign policy regarding support for opposing sides in Syria and the surrounding region.

Erdogan reiterated the need for that development of ties at a joint conference with Raisi in Tehran last week, following the signing of their agreements.

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