Cost of Russian embargo on Turkish imports likely to top $11bn this year

Turkish fruit on sale in RusiaThe cost of the Russian embargo on Turkish imports following the shooting down of a jet last year is likely to top $11bn this year alone, according to a new report compiled by the Turkish Social, Economic and Political Research Foundation (TÜSES).
With around $1bn’s worth – more than 28% – of Turkey’s fruit, vegetable and white meat exports destined for Russia last year, it is the country’s agricultural and food processing sectors that is set to feel much of the pain along with the tourism, construction, retail and textile sectors. 
Until the Russian jet was shot down over Turkish airspace last year, Russia was Turkey’s fourth largest source of capital inflow after Spain, the United States and the Netherlands.

Source: todayszaman