Economy
In reply to the discussion: Weekend Economists Ask: R WEE Donne? January 8-10, 2016 [View all]MattSh
(3,714 posts)Russian sanctions are now affecting Turkish tourism, construction firms and food exports, amid a bitter dispute over the Syria conflict.
The Kremlin reacted with fury when a Turkish F-16 fighter shot down a Russian Su-24 bomber on the Syria-Turkey border in November.
Russia has banned:
The import of Turkish fruit and vegetables, poultry and salt
The sale of charter holidays for Russians to Turkey
Construction projects with Turkish firms in Russia unless a special exemption is granted
There are restrictions now on Turkish citizens working for companies registered in Russia.
And Russia has suspended work on TurkStream - a new Black Sea pipeline that was to boost Russian gas exports to Turkey.
Economist Erhan Aslanoglu says the sanctions are bound to have an impact on the Turkish economy in the short term, but in the medium term Turkey will recover.
He predicts that the cost for Turkey in lost business could be at least $10bn (£7bn).
-----> http://www.bbc.com/news/world-europe-35209987