November 9, 2018 / 7:41 AM / 8 days ago

Turkey granted 25 percent waiver on U.S. Iran oil sanctions: minister

FILE PHOTO: Turkish Energy Minister Fatih Donmez speaks to media on board the drilling vessel Fatih off the Mediterranean resort city of Antalya, Turkey October 30, 2018. REUTERS/Kaan Soyturk

ANKARA (Reuters) - Turkey has been granted a waiver of around 25 percent on U.S. oil sanctions against Iran, Turkish Energy Minister Fatih Donmez said on Friday, amounting to around three million tonnes of oil annually.

Speaking in an interview with broadcaster NTV, Donmez said oil refiner Tupras (TUPRS.IS) was looking at alternatives to avoid any market difficulties. He said the 25 percent figure was approximate and Ankara had not yet received an exact figure.

He also said Turkey still had a contract to buy natural gas from Iran for five to six years and added that Ankara would continue to buy gas from Tehran.

Reporting by Ezgi Erkoyun; Writing by Tuvan Gumrukcu; Editing by Daren Butler

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