Turkey Braces For Potential Gas Squeeze as U.S. Targets Iran Trade

(Bloomberg) — Turkey, a key US ally and Iran’s third-largest trading partner, is at risk of losing a key energy supplier if Washington makes good on a threat to economically isolate Tehran.

US warnings against any country doing business with Iran raise questions over how Ankara would navigate the potential severing of ties with one of its biggest natural gas suppliers — something it didn’t do even when targeted by four Iranian missiles in the early weeks of the conflict.

Turkey sourced about 13% of its natural gas imports from Iran last year, equivalent to