Russia looks to sever economic ties with Turkey

Russian President Vladimir Putin says Russia is looking to sever economic ties with Turkey, after Turkey shot down Russian fighter jet near the Syria border.

Less than a year ago, the Russian and Turkish leaders Putin and Recep Tayyip Erdogan set aside their differences over foreign policy, signing a series of major trade and energy deals in the Turkish capital.

Now, amid the row following Turkey’s shooting down of a Russian jet, Russian Foreign Minister Sergei Lavrov has said Moscow is to “seriously reconsider” its relations with Ankara.


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The impact of this move would have a serious affect on Turkey’s economy; Russian tourists are the second-highest group visiting Turkey after German holidaymakers. In 2014 there were 4.4 million Russian visitors, mainly tourists.

In addition, Russia is Turkey’s main gas supplier, is among its top suppliers of oil. Turkey is the joint largest buyer of Russian wheat.

Last year four percent of Turkish exports, mainly textiles and food, went to Russia – although they fell by 40 percent between January and September this year.

 

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