Petro-Politics: Turkey And Iran

By Alakbar Raufoglu

Although US and European sanctions have tightened, they have done little to prevent Iran from becoming Turkey’s number one source of oil imports in the first part of this year.

In the first quarter alone, the Islamic Republic accounted for 30% of Turkey’s 4.3m total tonnes of crude oil imports, followed by Iraq (12%) and Russia (11%), according to Turkey’s Energy Market Regulatory Authority.

Turkey, which imports nearly 90% of its energy requirements, has sought long-term contracts with its neighbours to cover its needs.

“It is getting out of control. Iran is really gaining a major position in Turkey’s oil and gas imports,” said Mete Goknel, former director of Turkey’s state-owned pipeline company, BOTAS.

“For Turkey, monetary interests come before everything else,” he said, explaining that “Iran offers Turkey an affordable price, and Turkey’s private sector gives priority to cheap and long-term partners.”

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