CRI听力:Russia's Sanctions on Turkey Hit Businesses on Both Sides

Russia imposed economic sanctions after Turkey shot down a Russian warplane near the Syrian-Turkish border.

On the Russian side, clothing importers, like Liza Krol, have born the brunt of the sanctions.

"This is probably my last trip this year and it's not known how things will turn out, or if business will even exist next year. I think that everything will work out, but the problem is that I cannot take back goods with me right now and before I could. I now have to send it via cargo and who knows when I'll receive it."

Turkey was Russia's fifth largest trade partner this year before the sanctions were imposed.

Russia's imports from Turkey were 3.1 billion U.S. dollars between January and September this year, with Turkey's turnover of goods with Russia equaling 18.1 billion dollars.

Last year Turkey's trade with Russia, in mainly food and textiles, was worth nearly 6-billion US dollars. But this year, that's all changed.

Inna Bolgar, a sales consultant at a wholesale store in Istanbul, says business is significantly down since the incident.

"Now, in connection with the plane that was shot down, the number of customers has dropped sharply. If before the drop in customers was 20 percent, now it's 50 percent. All of our (Russian) clients have the same questions: when will cargo services return to normal? When will all of this end? When can we start working normally again?"

Giyasettin Eyyupkoca, chair of the Istanbul-based Laleli Industrialists and Businessmen Association, said the main problem for local Turkish businesses had been the disruption in the customs process for Turkish products being shipped to Russia.

"We know that there are trucks waiting at (Russian) customs for 10 – 15 days. This is the main problem we're facing and because of it, we have seen a number of order cancellations (for clothing.) Because there's no point in buying something that you can't take with you or sell."

Despite the impact on the Turkish economy, Turkey's President Recep Tayyip Erdogan has played down Russian restrictions on Turkish goods, saying Turkey's economy will not collapse because of Russia's economic sanctions.

"Though you (Russia) may spend a one billion (US dollars) worth in imports, Turkey is not a country that will collapse (if imports ceased.) (Applause.) Who cares whether you buy (Turkish products) or not? Funds will come through other avenues."

The European Bank for Reconstruction and Development report also notes that energy is likely to be the main pressure point. But it notes that at this stage, disruption to energy supplies seem highly unlikely.

For CRI, this is Li Jianhua.