Russia Mulling Economic Sanctions against Turkey
As a response to the downing of Russian Jet by Turkey, Russia is mulling wide-ranging economic sanctions against Turkey. Prime Minister Dmitry Medvedev today informed that the measures would be drafted within days, and could hit joint investment plans. Russian military reportedly has already suspended all communication channels with the Turkish military.
Turkey and Russia, except for their positions on Syria, have generally had friendly relations and have strong economic relationship. Russia is Turkey's second largest trading partner, while Turkey is the biggest foreign destination for Russian tourists.(an estimated 3.2 million Russian tourists visit Turkey every year). Further Russia accounts for more than 50% of gas imports of Turkey.
Russia has already advised its nationals against visiting Turkey and urged those already there to return home.
Mr Medvedev said: "The government has been instructed to work out a system of economic and humanitarian measures in reaction to this act of aggression."
In his latest remark, President Putin has complained that Russia had not received "a clear apology" from Turkish leaders, nor any offer of compensation or promise to "punish the criminals" over the downing of the jet."One gets the impression that the Turkish leadership is deliberately driving Russian-Turkish relations into a dead end," he said.
Turkey's President Recep Tayyip Erdogan has been defiant, saying his country does not need to apologise for violations of its airspace.