The Turkish economy will lose $9 billion due to the Russian sanctions, the Turkey’s deputy prime minister Mehmed Simsek said in an interview with Turkish television channel NTV.
Mehmed Simsek
Simsek added that Turkey still hopes to de-escalate the conflict with Russia [SF: apparently, by invading Iraq or buying oil from ISIS]
“Breaking all links with Russia — a situation we are not considering at the moment — may cost the economy 0.3-0.4 percent of GDP,” he said.
According to Simsek, Russia’s ban on food imports from Turkey will cost the country’s economy $4 billion. Ban on package tours to Turkey will cause additional losses.
Turkey also dependends on Russian energy supplies.