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

Iran sees its first sanctions removal since the nuclear agreement

The European Union has lifted sanctions on two Iran oil companies which are part of a group involved in extracting

Nasdaq offers $40m in Facebook compensation

Money set aside for traders who lost money due to technical fault on first day of trading of US social

Yet again new punishment for Chinese exporters!

The US has said it will impose tariffs of about 30% on imports of solar panels from China. This ruling

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Your e-mail address will not be published.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.