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Türkiye's imports from Russia dropped 40.5% year-on-year to $2.1 billion in July, their lowest monthly level since May 2021, as energy trade appeared to shift toward other suppliers amid heightened security risks in the Black Sea.
Despite the sharp decline in imports, Turkish exports to Russia rose 13.6% from a year earlier to $598.7 million, bringing total bilateral trade to $2.7 billion, the lowest monthly level since September 2021, Trade Ministry data showed.
Russia's share of Türkiye's total imports slipped to 6.4%, down from 10.6% a year earlier. Russia nevertheless remained Türkiye's third-largest import source in July, while ranking as Türkiye's 12th-largest export market, accounting for 2.5% of total exports.
During the first seven months of 2026, Türkiye imported $23.1 billion worth of goods from Russia, down 8.7% from $25.3 billion in the same period last year. Exports to Russia edged down 1.5% to $3.7 billion from $3.8 billion over the same period.
Although the Trade Ministry's provisional data do not provide a breakdown of imported goods, energy products have historically accounted for around 95% of Türkiye's imports from Russia, suggesting the decline was likely driven largely by lower energy purchases.
The decline was reflected in the latest available official data, as total energy imports from Russia fell 13.9% year-on-year to $13.4 billion in the first six months of 2026 from $15.6 billion a year earlier.
However, Türkiye's overall imports of mineral fuels, mineral oils, and related products climbed 13.2% year-on-year to $5.8 billion in July and increased 7.2% to $40 billion in the January-July period, pointing to stronger energy purchases from other suppliers.
According to the latest available data from the Energy Market Regulatory Authority (EPDK), natural gas imports from Russia declined 20.7% year-on-year to 1.4 billion cubic meters in May, while imports during the January-May period decreased 8.6% to 10.6 billion cubic meters.
Meanwhile, Türkiye's total natural gas imports increased 2.9% to 3.6 billion cubic meters in May and grew 3.7% to 27.6 billion cubic meters in the first five months of the year.
In the oil market, Türkiye's total petroleum imports increased 3% year-on-year to 4.1 million tons in May, driven by a 7.3% rise in crude oil imports to 2.7 million tons. During the January-May period, total petroleum imports reached 20.8 million tons, including 13.31 million tons of crude oil.
The decline in Russian energy shipments came as Turkish refiners increasingly diversified their crude supplies. Imports of Russia's flagship Urals crude dropped below $68 per barrel in early July before rebounding later in the month, as stronger demand from India and other Asian buyers made Russian cargoes more expensive.
Refiners also turned to more U.S. and Caspian crude after attacks on Turkish-operated tankers and other commercial vessels near Russia's Novorossiysk export terminal drove up shipping, insurance and security costs for Black Sea cargoes.
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