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.
“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.