(Reuters) - Relations between Moscow and Ankara have deteriorated after Turkey shot down a Russian air force jet during an operation near the Syria-Turkey border last week.
According to Turkey, the jet had repeatedly violated its air space, while Russia claims that the jet was on Syrian territory. It is one of the most serious publicly acknowledged clashes between a NATO member country and Russia for half a century.
Russian President Vladimir Putin imposed economic sanctions against Turkey on Saturday, including restricting unspecified Turkish imports.
The government is yet to approve the final list of banned import products.
Russia's energy exports to Turkey remain unaffected so far and there is no clarity on whether two major projects between the two countries are to be put on hold.
Below is the list of key areas of economic and trade relations between Russia and Turkey, and how they are affected by the dispute:
- Putin's decree said charter flights from Russia to Turkey would be banned and that tour firms would be told not to sell any holidays there.
- Turkey's seaside resorts are among the most popular tourism destinations for Russians; for Turkey, Russia is the source of the second-largest number of tourist arrivals after Germany.
- About 4.4 million Russians, including 3.3 million Russian tourists, visited Turkey in 2014.
- Tour companies had expected that tourist flows would shift to Turkey after Moscow halted flights to resorts in Egypt following the downing of a passenger jet over the Sinai Peninsula. This will not now happen.
- Russia will ban mainly imports of agricultural products, vegetables and fruits from Turkey and may expand its sanctions if needed, senior officials said on Monday.
- Turkish food supplies to Russia became more important after Moscow banned many Western food imports in 2014.
Turkey's exports to Russia, mainly food and textiles, were worth $6 billion last year, Renaissance Capital said in a note last week.
- Moscow may delay the introduction of the food import restrictions for several weeks to ease inflationary pressure and for the moment would refrain from banning imports of Turkish industrial goods, according to officials.
- Turkish exports to Russia have fallen 40 percent over the January-September period to $2.7 billion, mainly because of the falling value of Russia's rouble currency.
ENERGY AND COMMODITIES
- Russia is not expected to let the row with Ankara affect energy exports that are the core of its economic relationship with Turkey.
- Turkey is the second-largest buyer of Russian natural gas after Germany. Russia is Turkey's largest natural gas supplier, with Ankara buying 28-30 billion cubic meters (bcm) of its 50 bcm of natural gas needs annually from Russia.
- Turkey is the largest buyer of Russian wheat and sunflower oil. It bought 4.1 million tonnes of Russian wheat in the previous marketing year, which ended on June 30.
- Traders last week put a brake on new wheat deals between the two countries until they get clarity on what the Russian government plans to do, and some of them expect Russia to curb wheat exports to Turkey with informal limits.
- Turkey commissioned Russia's state-owned Rosatom in 2013 to build four 1,200-megawatt nuclear reactors in a project worth $20 billion.
- Russia and Turkey also have the TurkStream pipeline project, an alternative to Russia's South Stream pipeline to transport gas to Europe without crossing Ukraine. The South Stream plan was dropped last year due to objections from the European Commission.
- Russia's Gazprom in October almost halved the planned capacity of its TurkStream gas pipeline project to 32 billion cubic meters (bcm) per year.
- There is no clarity so far on whether these projects will be affected.
(Reporting by Polina Devitt; Editing by Catherine Evans)