Ulyukaev: sanctions against Turkey would not impact seriously on the economy of the Russian Federation

Ulyukaev: sanctions against Turkey would not impact seriously on the economy of the Russian Federation


Possible only a short wave of food inflation by a few tenths of a percent, predicts the head of the Ministry of economic development. In any case, in the range of 12 months it will be smoothed.

MOSCOW, 7 Dec. The Ministry of economic development predicts serious consequences for the Russian economy from the introduction of restrictions on import from Turkey, shortest possible wave of food inflation by a few tenths of a percent, said the Minister Alexey Ulyukaev in interview to the newspaper “Vedomosti”.

“While I assume that this would be unlikely on a macroeconomic level, relevant values. Some short wave of rise in food inflation is low, a few tenths of a percent. But in any case, in the range of 12 months it will be smooth,” said he, answering the relevant question.

While the speaker noted the possibility of negative consequences in the Russian economy after the imposition of sanctions against Turkey, in particular, rising prices, risks of participants of economic activities. But, in his opinion, will not affect macroeconomic level, significant quantities and will be of short duration.

Relations of Russia and Turkey is experiencing a crisis after November 24, Turkish F-16 shot down in Syria, the Russian bomber su-24. The Russian President Vladimir Putin called it a “stab in the back” by the accomplices of terrorists. The Russian foreign Ministry and the Federal tourism Agency advised Russians not to visit Turkey. Later, the Federal tourism Agency ordered operators to stop selling trips to this country.

After the incident, the President signed a decree on measures to ensure national security and on the special economic measures against Turkey. The first of December was published the decree of the government of the Russian Federation in the development of this decree. In particular, according to the document, from January 1, 2016 Russia suspends visa-free regime with Turkey and cancels Charter flights.