“Turkish Stream” pipeline and “Akkuyu” nuclear power plant projects are not included in the list of Russian imposed sanctions yet.
Advertisement
“His comments come less than a day after Moscow Russia+Confirms” announced it was suspending Turkish Stream, a project it was to carry in Ankara created to pump gas into Turkey.
“The Marmara region buys nearly all of its gas from Russian Federation and this region makes up 40 percent of Turkey’s GDP (gross domestic product) as well as its energy consumption”, said FACTS Global Energy consultant Cuneyt Kazokoglu. In Turkey, “domestic energy demand is surging and internal energy sources are extraordinarily limited”, the publication wrote in a recent analysis.
Davutoglu insisted Turkey did not know the nationality of the plane it downed inside Turkish air space.
Turkey is the second largest buyer of Russia’s natural gas, trailing only behind Germany. The pipeline was originally supposed to transport 63 billion cubic meters of gas annually – 16 billion to Turkey and 47 billion to the Turkey-Greece border. Moscow and Ankara were negotiating the Turkish Stream within this commission.
Turkey earns $4 billion in tourism revenues annually from Russian tourists.
“We have always deemed betrayal the worst and most shameful thing to do, and that will never change”, Russian President Vladimir Putin told the Federal Assembly. Major Turkish exports to Russian Federation in the same period were fruits and vegetables (Turkey having a surplus of $1.1 billion here), textile and apparels ($1.2 billion), machinery and equipment ($1.5 billion).
The Kremlin decree includes limitations on imports from Turkey as well, but a closer look at the composition of the trade between the two countries reveals that Russian Federation has not much to gain in this field either. Turkish media reported on Friday that Russia’s trade minister advised Russian auto producers to consider diversifying their suppliers before a counter-move from Turkey, their main supplier.
Advertisement
Novak, however, said the opposition was purely political and did not take economic reality into account.
