Russia: sanctions against Turkey not to seriously affect the economy – A.Ulyukaev




The Ministry of Economic Development of the Russian Federation does not expect for any serious consequences for the country's economy by imposing restrictions on the food supplies from Turkey, declared the Minister of Economic Development of Russia, Alexey Ulyukaev.

According to him, there will be hardly macroeconomically significant values. There is possible some short wave of increasing of food inflation. But in any case, within 12 months it will be flattened.

A.Ulyukaev noted the possibility of negative consequences in the Russian economy after imposition of the sanctions against Turkey, in particular, the growth of prices, the risks for market participants. But in his opinion, it will not have any significant impact at the macroeconomic significant parameters, and will be short-lived. Also, the Minister also stressed that the authorities did not discuss any further expanding of the economic sanctions against Turkey.