Reported 19 days ago
A Turkish gas trader, Bosphorus Gaz Corporation, has initiated a currency exchange program to enable trade between Turkey and Russia, circumventing complications from Western sanctions. The firm allows Turkish exporters to receive payments in euros for rubles owed by Russian customers, which can then be used to pay for gas from Russia's Gazprom. This initiative, aimed at addressing payment delays and high banking fees, reflects the ongoing adaptation of businesses to navigate the complexities introduced by sanctions following Russia's invasion of Ukraine.
Source: YAHOO