Trade can be done in rouble, yuan, gold: Erdoğan tells Putin


Conducting trade in national currencies was among the topics discussed during President Recep Tayyip Erdoğan’s phone call with his Russian counterpart Vladimir Putin, according to newly revealed details.

In a phone call on Sunday, Erdoğan told Putin that Turkey was ready to help resolve the Ukrainian crisis through peaceful means as soon as possible.

Meanwhile, according to information obtained from sources in the ruling Justice and Development Party (AKP), the issue of trade payments between the two countries was also discussed.

Sources claim that Erdoğan told Putin that apart from the euro and the dollar, trade between the two countries can be carried out using the Russian ruble and the Chinese yuan.

“We can do it with gold,” he reportedly suggested.

Moscow is likely to seek alternatives as Western sanctions have removed several Russian banks from the SWIFT international payments network. Russia could in theory try to replace the SWIFT communication system that keeps international trade flowing.

During the conversation, Erdoğan raised the issue of the 30 ships loaded with sunflower oil and wheat raw materials en route to Turkey that are currently waiting in the Sea of ​​Azov, the sources said.

Meanwhile, after Sunday’s phone call between Erdoğan and Putin, the Communications Directorate said in a statement that “Russia’s attack on Ukraine was discussed, Turkey-Russia relations were assessed.” .

Stressing that an urgent comprehensive ceasefire would not only alleviate humanitarian concerns in the region, but also provide an opportunity to seek a political solution, Erdoğan reiterated his call to “pave the way to peace together”.

Maintaining its neutral and balanced position, Turkey continues its diplomatic efforts to defuse the Ukrainian conflict, urging all parties to exercise restraint. While Ankara has opposed international sanctions meant to isolate Moscow, it has also closed the Bosphorus and the Dardanelles under a 1936 pact, allowing it to prevent some Russian ships from crossing the Turkish strait.

A NATO ally, Turkey borders Ukraine and Russia in the Black Sea and enjoys good relations with both. Since the start of the conflict, Ankara has offered to mediate between the two sides and host peace talks, stressing its support for Ukraine’s territorial integrity and sovereignty. Having recently called the Russian invasion an unacceptable violation of international law, Turkey has carefully crafted its rhetoric so as not to offend Moscow, with which it has close ties in energy, defense and tourism.

Turkish Foreign Minister Mevlüt Çavuşoğlu recently said on Monday that Ukrainian and Russian foreign ministers will meet in Antalya on Thursday as part of Turkey’s mediation efforts to find a solution to the invasion of Moscow.

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