Putin discussed an agreement on the gas hub in Turkey and put forward the conditions for renewing the grain agreement.

Russia is close to a deal with Turkey that will create a natural gas trading center, Putin said in Sochi during talks with Turkish President Recep Tayyip Erdogan. According to Putin, the gas hub in Turkey “will make the energy situation in the region more stable.”

In turn, Erdoğan said increasing trade between the two countries is crucial. Trade volumes are currently at $62B, and the parties plan to increase this figure to $100B annually.

At the beginning of the meeting, Putin stated that he was open to discussing the restoration of the grain agreement. Erdogan announced the preparation of a “new package” of proposals together with the UN to restore the initiative and said that Ukraine “needs to soften its approach to joint steps with Russia”.

However, as a result of the negotiations, Putin emphasized that Russia is ready to revive the agreement after all of Moscow’s conditions are met, including lifting restrictions on grain exports.