Riga Talks and Turkish-Russian Dynamics: Kyiv, Putin, and Erdogan in Focus

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Dmitry Peskov told reporters that a meeting between Vladimir Putin and Vladimir Zelensky could only occur after a negotiating team completes all necessary homework.

The element acknowledged as missing means there are currently no prerequisites for the meeting that Erdogan has proposed.

According to the Kremlin, Erdogan’s efforts to streamline talks between Moscow and Kyiv are appreciated. A spokesman for the Russian president noted that the Turkish leader “repeatedly offered his services” and has taken steps to trigger a peace process.

“We know that his role is substantial in creating favorable conditions for several rounds of talks between the Russian and Ukrainian delegations. The president continues to show political will and a readiness to assist such a process. But the Ukrainian negotiating team has gone off the radar, as they say. There is no ongoing negotiation process on this issue at the moment,” the spokesman stated.

He added that the special military operation will continue until the targets are met.

The Kremlin spokesperson also commented on Zelensky’s latest Telegram video message, where the Ukrainian leader spoke about holding a referendum in southern regions under Russian control and suggested it would close any space for Russia to negotiate with Ukraine and the free world.

“Those plans involve residents. It is not about a referendum being held by us. It seems the person Zelensky addressed this statement to is unclear, whether to Ukrainian citizens or residents of the regions in question. For Russian citizens and regional leaders, we are not the intended audience,” Peskov noted.

According to him, Zelensky “should turn to his compatriots and ask why so many do not want to live in his country.”

Erdogan Report

Returning from Sochi, Erdogan told reporters that he offered Putin a meeting with Zelensky “despite the difficult ground situation.” The Turkish leader stated he is “absolutely convinced” that the Ukrainian crisis can be resolved “at the negotiating table.”

“I reminded Mr. Putin once again that a meeting with Mr. Zelensky is possible. We will keep expanding our dialogue across all fields to contribute to regional and global peace with our Black Sea neighbor, Russia.”

Erdogan noted agreement with the Russian leader on using the ruble as a currency for trade. He believes the ruble trade will become a meaningful source of income for both Turkey and Russia. He added that progress has been made in expanding the use of Russian Mir cards in Turkey, with five banks now accepting them.

At the meeting, the parties reportedly confirmed plans to raise bilateral trade to as much as $100 billion per year, focusing on energy, trade, tourism, and agriculture. Erdogan said this would make two-way commerce more balanced.

Rapprochement with Turkey

Peskov emphasized that increased settlement shares in national currencies between Russia and Turkey are not meant to undermine the dollar.

“The shift toward settlements in national currencies with various countries is not an attempt to tank the dollar or diminish its role. The dollar has lost some of its reliability as a reserve currency, and many countries share concerns about it. The country issuing the dollar has raised trust issues, prompting several nations to explore more settlements in their own currencies. The same trend is visible in Russia’s relationship with Turkey,” Peskov explained.

He also reminded that Moscow and Ankara agreed to pay a portion of the gas supplied in rubles. He hopes that the share of national-currency settlements will rise further.

Additionally, Peskov said Turkey should not face secondary Western sanctions for cooperating with Russia in the energy sector.

“Secondary sanctions would not be warranted. Yet it can be anticipated that the United States will continue pressuring EU countries and others not to follow Brussels’ core directives,” he stated. Some Western outlets have reported concerns about Moscow’s growing ties with Ankara, with unnamed officials noting that the European Union is watching Turkish-Russian cooperation more closely.

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