Energy minister reiterates: US, EU sanctions on Iran not binding for Turkey.

By bne IntelliNews February 17, 2012
Energy minister Taner Yildiz yesterday (Feb 16) reiterated Turkeys position, saying sanctions announced by the US and EU on Iran were not binding for Turkey. Previously, Ankara said it would only comply with UN resolutions. Turkey imports around 30% of its oil from Iran and buys substantial amount of natural gas from its eastern neighbour. Yildiz, however, admitted that Turkey was trying to reduce its energy costs with bilateral agreements but tension between the Tehran regime and West increased Turkeys energy costs. Turkey imports natural gas from five different countries and buys oil from 11 countries but Ankara may increase the number of its oil suppliers up to 15, the minister said without giving any details.

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