The share of Turkish goods hit by Russian sanctions introduced early in 2016 accounted for 22% in the structure of Russian import from Turkey or nearly $1 billion in 2015, the Russian Ministry of Economic Development said in draft customs and tariff policy guidelines for 2017-2019.
If Russian sanctions continue to be in effect by 2016 year-end, losses of Turkey as of the end of this year may be about $1 billion.
Gradual recovery of cooperation in trade and other spheres between Russia and Turkey started this June. Russia still maintains sanctions on Turkish foods for the time being. (TASS/Business World Magazine)
