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Russia Tightens Turkey Sanctions

Russia Tightens Turkey SanctionsRussia Tightens Turkey Sanctions

Russia will prohibit Turkish companies from construction, tourism, the hotel business and services for state and municipal needs from Jan. 1 onwards, the Russian government said on Wednesday in a resolution.

Russian President Vladimir Putin on Monday had signed an order to extend Russian economic sanctions against Turkey. Sanctions were first imposed after Nov. 24, when Turkish forces shot down a Russian fighter jet that had violated Turkish airspace despite repeated warnings, Anadolu Agency reported.

Monday’s order implements sanctions that were included in the initial sanctions imposed on Turkey on Nov. 28, but which had not yet been implemented. The new order also imposed a ban on the operations of several organizations under the jurisdiction of Turkey as well as a limitation of Turkish organizations’ activities in Russia.

Moscow will also take economic revenge on Turkey beginning Jan.1 by banning 15 fruits and vegetables, which accounts for 42% of Turkish exports to Russia, while allowing large-scale, ready-to-wear companies to maintain their businesses.

According to a news report published by Turkish Haberturk daily on Tuesday, Russia published the list of those Turkish companies that were exempt from the embargo in the Russian newspaper Kommersant. The list includes Adl, Colin’s, DeFacto, Koton, LC Waikiki, Mexx, Marks & Spencer, Banana Republic and The Gap, which are maintaining their exports to Russia. Another brand that was exempt from the embargo is Anadolu Efes.

With Russian sanctions against Turkey coming into force on January 1, the cost of a dispute with Moscow has been counted up, and it is a cost Turkey can ill afford.

On a trip to Belgrade recently, Prime Minister Ahmet Davutoglu was keen to find alternative markets for Turkish products, but also appeared keen to begin the long road back to normal relations with the Russians. For the moment Russia is refusing to talk until, at the very least, apologies are offered for its dead pilot.

Financialtribune.com