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Turkey and Armenia Move Closer to Historic Normalization Deal

Turkey and Armenia Move Closer to Historic Normalization Deal | EN590 Commodities Group
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Turkey and Armenia Move Closer to Historic Normalization Deal

📅 May 16, 2026
📡 Source: oilprice.com
🌍 Global Markets
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Canada Clears Path for West Coast Oil Pipeline Build Eurasianet is an independent news organization that covers news from and about the South Caucasus and Central Asia, providing on-the-ground reporting and critical perspectives on… Turkey and Armenia have taken a major stride in settling their historical differences, agreeing on a bureaucratic framework to promote direct trade between the two states.

The Turkish Foreign Ministry announced on May 13 that Ankara had approved streamlined regulations for goods moving to/from Turkey and Armenia via third countries.

A ministrystatementadded that the two states are now working towards reopening their shared border.

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“The necessary technical and bureaucratic studies for the opening of the common border between the two countries are still ongoing,” it stated.

Due to historical grievances, Armenia and Turkey have never had diplomatic relations.

Their shared border has remained closed since 1993, when Turkeysealed it in a show of solidaritywith Azerbaijan during the First Karabakh War, which saw Armenian forces secure the disputed Nagorno Karabakh territory, along with broad swathes of Azerbaijan proper.

Turkish and Armenian officials have been engaged in a process aimed at normalizing relations since 2022.

A previous joint initiative to establish diplomatic relations, launched in 2009,eventually stalled.

Officials in Yerevan applauded the Turkish decision to ease trade rules, describing it as “an important step” in efforts to establish diplomatic relations.

“This decision is essential from the perspective of expanding trade and business circles between the two countries, boosting economic connectivity in the region, and ensuring peace and prosperity,” read an Armenian Foreign Ministrystatement.

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📊 Indicative Market Prices · May 16, 2026 · 21:36 UTC
Product Price Change
Brent Crude$102.14/bbl▲ +0.34%
WTI Crude$96.90/bbl▲ +0.21%
EN590 Diesel$846/MT▲ +0.18%
Jet Fuel A-1$1090/MT▲ +0.55%
Mazut M100$450/MT▼ -0.15%
Bitumen 60/70$470/MT▲ +0.08%
Sulphur Gran 99.5%$470/MT▼ -0.44%
Urea 46% Gran$650/MT▲ +1.12%
NPK 16-16-16$460/MT▼ -0.28%
Nat Gas TTF$15.42/MMBtu▲ +0.92%
* Indicative prices for reference only. Contact us for firm offers.
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