Turkish exports to Russia collapse due to sanctions
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Exports from Turkey to Russia fell by 33% in February amid US sanctions
Export supplies from Turkey to the Russian Federation in February, amid the strengthening of the sanctions regime, decreased by 33% year on year, Reuters reports.
The agency refers to data from the Turkish Ministry of Trade. As a result, Turkey’s exports to Russia amounted to $670 million over the month, compared to $1.1 billion a year ago.
Imports of Russian goods to Turkey also decreased, also by about 1/3, from $2 billion to $1.3 billion. According to Reuters, this is due to threats from the United States to impose sanctions against financial organizations doing business with Russia.
Earlier it was reported that several Turkish banks closed the accounts of Russian companies.
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