Switching to National Currencies is Important, Erdogan Tells Putin
16:06 04.09.2023 (Updated: 18:58 04.09.2023)
© Sputnik / Sergey Guneyev
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Ahead of the much-ainticipated summit, the Russian leader said he was open to negotiations on the troubled grain deal.
Switching to national currencies in bilateral trade is important, Turkish President Recep Tayyip Erdogan told Russian President Vladimir Putin during their talks in Russia's Sochi on Monday.
"I believe that the fact that the heads of our central banks will meet here today is important from the point of view of a step towards the transition to national currencies in bilateral relations between us," Erdogan said.
Putin and Erdogan are holding talks to discuss a wide range of issues, including the Ukraine conflict and the Black Sea Grain Initiative, also known as the grain deal.
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The latest bilateral meeting between Putin and Erdogan took place almost a year ago, when the two leaders held talks on the sidelines of the 7th Conference on Interaction and Confidence Building Measures in Asia (CICA) in Kazakhstan's capital Astana.
So, what did Putin and Erdogan discuss in Sochi today? See the agenda below.
Turkiye Gas Hub
"I hope that in the near future, we will conclude negotiations on the establishment of a gas hub in Turkiye in order to make the energy situation in the region more stable and balanced," said Vladimir Putin.
"Another significant element for us is the creation of a [gas] hub in East Thrace," added Erdogan.
Ukraine conflict
"There is something to talk about in terms of ensuring security in the region. Of course, we will not ignore the issues related to the Ukrainian crisis," Putin said at the meeting.
Turkey, Russia on Path to Reach $100Bln Trade
"We are going through a completely different period in relations between Turkey and Russia, we are very pleased that our foreign trade is currently $62 billion, and we are moving towards our goal of $100 billion," the Turkish leader said.
"The construction of the Akkuyu nuclear power plant continues, now Turkey has truly become a member of the international club of nuclear states, after the delivery of the first batch of Russian nuclear fuel Akkuyu, next year, everything is going according to plan, we will launch the first unit," Putin said.
Grain Deal
The Russian leader also said to his counterpart that Russia was open to negotiations on resuming the grain deal.
"I know that questions on the grain deal are planned to be raised. We are open to negotiations on this matter," Putin said during the meeting.
Why Did Russia Refuse to Extend Grain Deal?
In July 22, 2022, Russia, Ukraine, Turkiye and the United Nations reached agreements in Istanbul aimed at easing restrictions on suppliers of Russian fertilizers in exchange for the passage of grain ships from Ukrainian ports.
However, the Western countries and Ukraine failed to fulfill their commitments on facilitating the export of Russian foodgrains and fertilizers to global markets. Moreover, Russian exporters of grain and fertilizers faced barriers primarily related to denials of service at ports, payment for supplies and insurance.
So, Russia decided not to extend the grain deal on July 18.
