Русский
The Russian President, Vladimir Putin met with President of the Republic of Turkiye Recep Tayyip Erdogan on Tuesday (September 1) in Bishkekon the sidelines of the SCO summit. The Russian delegation also included Foreign Minister Sergei Lavrov and Presidential Aide Yuri Ushakov.
This is what Putin had to say:
“Mr President, friends, I am very pleased to meet with you again. It has been some time since we last met, although we have kept our bilateral relations under close review. Turkiye is one of Russia’s most privileged partners, both in international relations and in the economy. The Intergovernmental Commission is working actively, and thanks to your personal attention to the advancement of our relations, the level of economic cooperation remains high.
Major joint projects are ongoing, one of them is the well-known Akkuyu Nuclear Power Plant, operating in Turkiye. You set Rosatom the target of launching the first unit this year – and it will be delivered; the company is on schedule.
There is also significant potential for deepening cooperation in the cultural and humanitarian spheres. The flow of Russian tourists to Turkiye is steadily increasing. In 2025, the number reached almost seven million – 6.9 million, to be precise. Today we have an excellent opportunity to discuss these and all other topics that are undoubtedly of mutual interest.”
Erdogan replied:
“I also greatly value the opportunity to sit down with my friend, the Russian President, here today. Turkish-Russian relations have indeed reached a remarkably high level compared to the same period in previous years.
Russian tourists – Russian citizens – are of great significance to our country, and this is a positive development. Today, our guests from Russia make up the bulk of the tourist flow to our province of Antalya.
Mr President made a very important point just now, because the Akkuyu Nuclear Power Plant is indeed of great importance to the relations between our countries. We are already at the final stage of commissioning the first unit. We are very much looking forward to the completion of this construction and to the joint launch of the first unit. Once it is up and running, we will talk with you again about our future generating units and power plants.
We are continuing with these preparatory works, but alongside this – and this naturally applies to the economy, energy, tourism, and agriculture – we are also maintaining our dialogue and coordination across these areas.”
Nuclear Power
The Akkuyu NPP mentioned was built, is owned by, and operated by Rosatom. Costing about US$23 billion, it features four reactors with a total capacity of 4.8 gigawatts, which is enough to supply about 10% of Turkey’s total electricity needs once fully online. Construction began in 2018, with the facility now entering its final completion stages and nearing its official launch.
Both leaders signaled intent to sign agreements and build additional NPP in Turkiye following the final launch of Akkuyu. Ankara is also holding early talks with other nations like South Korea and China, but Russia remains its primary and most advanced partner in the nuclear sector.
Tourism
The near 7 million Russian visitors to Turkiye last year represent Turkiye’s largest source of overseas tourists, favoring Mediterranean beach resorts like Antalya. Russians also tend to use Istanbul as a convenient travel hub for onward flights to Europe and Asia. While Russia’s MIR card system is unavailable in Turkiye, Russians mostly pay for goods in the country using physical cash (US dollars, Euros, or Turkish Liras), alternative digital wallet apps, or UnionPay cards issued by non-sanctioned Russian banks. Visa and Mastercards issued in Russia also no longer work overseas.
Russians can use apps such as Letim to set up a virtual Turkish Troy card, funding it from Russian ruble bank accounts to make QR-code or contactless NFC smartphone payments. Cards issued by surviving Russian financial institutions on the UnionPay network can sometimes be used at specific Turkish ATMs or POS terminals that support the network, though acceptance is limited. Some alternative cross-border transfer providers and niche mobile apps (such as specific bank QR features or services like Kwikpay) facilitate funds or payments, though availability shifts frequently due to sanctions.
Russian passport holders can enter Turkiye visa-free for short tourist stays of up to 60 days per entry, with a maximum total of 90 days within any 180-day period.
Agriculture
Russia and Turkiye boosted their mutual agricultural trade by over 30% year-on-year in the first half of 2026, following executive committee meetings in Ankara. Russia supplies major shares of Turkiye’s wheat, legumes, sunflower oil, bran, and mineral fertilizers, while Turkiye supplies fish products, fresh fruits, and citrus fruits to Russia.
Ankara eased phytosanitary regulations for imported Russian wheat in August 2026, removing two common bunt pathogens (Tilletia caries and Tilletia laevis) from mandatory restriction lists to streamline grain logistics. Both nations have also expanded technical collaboration focusing on seed trade, plant health, genetic improvement, vaccination, and agricultural education.
Finance
Bilateral trade reached US$49.1 billion in 2025, a 6.6% decrease compared to 2024.
The primary driver behind the decline in trade was intense Western pressure through secondary sanctions, which targeted the financial and logistical pipelines connecting the two countries. This affected exports and imports for several key reasons, including U.S. executive orders on secondary sanctions. That resulted in American and European regulatory bodies heavily scrutinizing Turkish banks. Fearing being cut off from the global SWIFT system or facing asset freezes, major Turkish financial institutions significantly tightened their compliance measures, while Turkish banks routinely delayed or rejected transactions out of caution regarding “dual-use” goods, prioritizing compliance over profit. Even though workaround routes like direct Ruble accounts were utilized, the administrative friction severely slowed trade velocity.
Turkiye also lost its role as a re-export hub. It had become a vital logistical hub for re-exporting electronics, machinery, and industrial components into Russia. Last year, the U.S. Office of Foreign Assets Control (OFAC) actively blacklisted Turkish intermediaries and logistics firms found moving Western-regulated goods. As a result, Turkish companies drastically pulled back from handling these shipments to avoid SDN list inclusion, causing a 21.5% drop in Turkish exports to Russia.
Summary
Turkiye is caught between a rock and hard place when it comes to Russia and is also being impacted by the Ukraine war. Turkish ships have been attacked by Ukrainian drones if suspected of carrying goods to and from Russia, including grain supplies. Attacks have also been carried out by Ukraine on the Turkstream pipeline, which carries Russian gas to Europe.
Western sanctions threats on Turkiye have also curtailed some bilateral trade with Russia, creating economic difficulties for Ankara without any compensation. Dealing with this is difficult for Ankara as Turkiye is a member of NATO and effectively has to sit on two chairs when it comes to Russia. That means not being overly critical of Ukraine, while attempting to bolster Russian trade and investment at the same time. The proposed additional NPP deals will go some way to helping with this as Turkiye wishes to diversify its energy sources, reducing heavy dependence on imported natural gas, and meeting rising domestic electricity demand. That is expected to increase by 40% by 2040, meaning Russia’s NPP will be the primary candidate for bridging this gap.
Agriculture too, is growing, with Turkish fruits and vegetables an increasingly common sight in Russian markets. The bilateral trade picture will probably remain static while the threat of sanctions remains.
