On the Brink? Russian Sanctions to Cost Turkey Four Times Initial Estimates

‘Russian sanctions are now expected to cost Turkey more than $12 billion annually – four times Ankara’s previous estimates, according to a Turkish trade official; this, together with the consequences of the recent terrorist attacks in which the country’s tourism industry was targeted, signal that Turkey should brace for the worst.

Terrorism and Russian sanctions have left Turkey’s already struggling economy bracing for the worst, according to Aydin Sezer, a former trade official who formerly represented the Turkish government in Moscow.’

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