Russian sanctions adversely affect Turkey

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(VOVworld) – Turkey’s decision to shoot down a Russian bomber over Syria will impact four sectors of the Turkish economy, said Alexey Pushkov, Chairman of the Russian Duma’s International Affairs Committee.

(VOVworld) – Turkey’s decision to shoot down a Russian bomber over Syria will impact four sectors of the Turkish economy, said Alexey Pushkov, Chairman of the Russian Duma’s International Affairs Committee.

Russian sanctions adversely affect Turkey - ảnh 1
Photo taken on Oct. 21, 2015 shows Russian Sukhoi Su-24 taking off from the Hmeymim airbase in the Latakia province, Syria. (Xinhua/Sputnik)

He cited Turkey’s tourism, Turkish companies doing business in Russia or exporting their products to Russia, and Turkey’s national budget, as the hardest hit by Russian sanctions. Pushkov said tourism will be badly damaged, as Turkey earns 3.5-4 billion USD a year from Russian tourists, who account for 12-18 percent of Turkey’s tourism revenues. Turkish companies doing business in Russia will also be affected. According to Pushkov, last year their total income was about 750 million USD. Turkish companies exporting their products to Russia will sustain losses, said Pushkov, citing the fact that in recent years trade between Russia and Turkey has reached 30 billion USD. Finally, sanctions will deal a blow to the entire Turkish budget, because income from exports and tourism will decrease. But, he noted, sanctions against Turkey are not aimed at hurting Turkish citizens.

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