English | دری

Russia sweeps economic sanctions against Turkey

in International Business

Russia sweeps economic sanctions against Turkey

Russian President Vladimir Putin on Saturday signed into law a package of sanctions against Turkey following the shooting down of a Russian jet on the Syrian border by Turkey.

The sanctions cover tourism industry, cancels visa-free travel between the two countries, bans many Russian companies from hiring Turkish citizens and blocks imports of some Turkish goods.

Having USD 30bn in trade ties, the two nations have important economic links.

Russia is Turkey’s second-largest trading partner, and close to 90,000 Turkish nationals are working in Russia.

Calling Turkey’s action “a stab in the back”, Putin wants an apology from Turkey before he will agree to talks. Turkish President Recep Tayyip Erdogan has refused to give his apologies and claims that the Russian jet was shot down for intruding into the Turkish airspace.



Related Articles

Barclays Website Discloses Phone Conversation Regarding Libor Rate Setting

Barclays reveals a phone conversation between then CEO Bob Diamond and the Deputy governor of the Bank of England. In

Eurozone Finance Ministers agree on a deal for Cyprus

Eurozone Finance Ministers have agreed on a bailout deal of 10bn Euros to keep Cyprus in the Eurozone and rescue

US unemployment rate remains at 8.2% in June

US employment rose by 80,000 in June, official figures have shown, leaving the unemployment rate unchanged at 8.2%. Hopes for

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.