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14 June, 2024
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Putin and Erdogan set to explore Russian-Turkish bank formation

Moscow and Ankara eye deeper economic links through bank partnership


Moscow and Ankara are set to discuss the establishment of a bank serving Russian and Turkish interests, among other topics, during the upcoming week, according to the Kremlin.

Dmitry Peskov, spokesman for the Russian president, announced on Tuesday during the routine press briefing that the agenda of the Putin-Erdogan talks, scheduled for next Monday during the official visit of the Kremlin resident, includes the formation of a Russo-Turkish bank.

The purpose behind this initiative is to deepen the commercial and economic ties between the two countries, which have strengthened significantly following successive Western embargoes on Russia due to the 2014 Crimea annexation and the 2022 events in Ukraine.

"All dimensions of commercial and economic relations will be discussed," stated Mr. Peskov. When asked about the discussion of payment issues, reaching specific agreements for the establishment of the Russo-Turkish bank, and a roadmap for creating a natural gas hub, he replied, "All these issues will be on the agenda."

"Turkey is our significant commercial and economic partner, and, of course, all shades of these relations will be on the agenda," concluded the Kremlin spokesperson.

According to the Russian news agency TASS, Ankara intends to discuss the construction of a natural gas hub and discounts on Russian gas during Putin's visit to Turkey.

Other potential topics include issues with settlements through Turkish banks faced by Russian companies.

Additionally, according to the Turkish Ministry of Foreign Affairs, discussions will encompass the situation in Syria and Palestine, as well as the construction of the Akkuyu nuclear power plant and the Black Sea grain corridor.

[With information sourced from TASS]

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