Putin meets with his Turkish counterpart Erdogan and discusses strengthening trade and energy ties

Russian President Vladimir Putin met on Saturday September 3 with his Turkish counterpart Recep Tayyip Erdogan. During the telephone conversation, the two leaders reaffirmed their commitment to strengthening trade and economic ties, which includes promoting joint energy projects. Erdogan and Putin also discussed the situation in Ukraine, grain export and the Zaporizhzhia nuclear power plant.

“They reaffirmed their commitment to developing trade and economic relations, including the promotion of joint strategic projects in the field of energy,” according to the statement published by the Kremlin on Telegram.

During the telephone conversation, Erdogan stressed that Turkey can play the role of facilitator in the Zaporizhzhia nuclear power plant file. He highlighted Turkey’s role in grain exports from Ukrainian ports, according to the statement released by the Turkish President’s office.

In addition, the two leaders discussed the progress of cooperation between Russia and Turkey in the agreements signed between the two nations in Sochi on August 5. The two sides agreed to continue talks at the Shanghai Cooperation Organization summit to be held on Sept. 15. 16. Turkish President Recep Tayyip Erdogan also offered his condolences on the death of former Soviet leader Mikhail Gorbachev. Erdogan hailed Mikhail Gorbachev’s contribution to contemporary Russian and world history.

“President Erdogan said that Turkey can play a facilitating role in the Zaporizhzhia nuclear power plant, as in the grain agreement,” according to the statement released by the Turkish president’s office.

Russian banking sector faces loss of 1.5 trillion rubles, says Dmitry Tulin

The talks between Putin and Erdogan come at a time when the United States and its allies continue to impose sanctions on Russia for launching an offensive in Ukraine. So far, the European Union has imposed a number of sanctions packages against Russia, including targeted restrictive measures, economic sanctions and diplomatic measures. According to the EU, the sanctions were imposed to weaken the Kremlin’s ability to finance the war.

A senior Russian Central Bank official pointed to Russia’s war loss in Ukraine. Dmitry Tulin, the first vice president of the Central Bank of Russia, said the Russian banking sector suffered a loss of 1.5 trillion rubles (Rs 19,83,71,84,000) in the first half of 2022 , RBC reported.

According to the report, the Russian banking sector recorded losses for the first time in seven years. The losses to Russia’s banking sector come amid the ongoing Russia-Ukraine war and anti-Russian sanctions.

Meanwhile, G7 finance ministers reaffirmed their commitment to preventing Russia from profiting from its offensive. On September 2, G7 leaders agreed to finalize and implement a “comprehensive ban on services that enable the maritime transport of crude oil and petroleum products of Russian origin around the world.” The leaders stressed that the provision of these services would be permitted if petroleum and petroleum products are purchased at or below the price (the price cap) determined by countries to implement the price cap.

Image: AP

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