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Ten Billion Reasons Why Russia Will Balk at Curbing Turkey's Gas

  • Turkey gets about half its natural gas supply from Russia
  • Turkey could seek alternative supplies from Iran, U.S.
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Calls for Calm After Russian Jet is Downed

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Turkey relies on Russia for about half its natural gas supplies, paying state-controlled Gazprom PJSC as much as $10 billion last year. That makes their energy ties an unattractive target for retaliation.

With so much at stake for both sides, Russia may look elsewhere in its response to the downing of its warplane by Turkey on Tuesday. Russian Deputy Energy Minister Anatoly Yanovsky said that supplies to Turkey would continue in line with the contract. Longer term, Turkey could reduce its dependence on Russian gas through alternative supplies.