Following an initial failed attempt in 2018 due to commercial disagreements, Rosatom is once again seeking to divest its stake in the Akkuyu project. Antón Dedusenko, head of Rosatom’s Turkish subsidiary, emphasized that the proximity of the plant’s completion is attracting more investors. The deal, however, is complicated by the looming threat of U.S. sanctions, which have prompted Moscow and Ankara to consider alternative financial mechanisms, potentially involving the Russian ruble or Turkish lira. These discussions underscore the economic strategies of both nations as they navigate sanctions and geopolitical tensions.
Despite its membership in NATO, Turkey has maintained a pragmatic relationship with Russia, balancing its alliance commitments with economic interests. This is evident in Turkey’s continued support for Ukraine, including aid shipments and hosting international mediation efforts, while still engaging with Russia on key projects like the Akkuyu Nuclear Plant. The plant’s significance is further heightened by its potential to reduce Turkey’s reliance on energy imports and bolster its energy independence.
As the U.S. sanctions remain a critical obstacle, the exploration of alternative payment methods reflects a strategic shift in how international transactions are structured amidst escalating geopolitical pressures. The success of the Akkuyu project could serve as a landmark in both Turkey’s energy sector and the broader Russian-Turkish economic relationship, highlighting the complex interplay between energy cooperation and political tensions.