Russia took a decision to gradually repeal foreign trade sanctions applied to Turkey. On June 30, 2016 the Russian President issued Decree No. 314 which lifted some of the sanctions imposed on Turkey. Namely the Decree (i) provides for the resumption of charter flights between Russia and Turkey, (ii) allows Russian travel agencies to sell tours to Turkey, as well as (iii) instructs the Russian Government to hold negotiations with the Government of Turkey on the improvement of foreign economic relations, which may result in gradual repeal of the other foreign trade measures currently imposed on Turkey. Decree No. 314 should be implemented by the relevant resolutions of the Russian Government.
Decree No. 314 was issued following the negotiations between the Russian and Turkish Presidents which took place on June 29, 2015.
Russian trade sanctions were initially imposed against Turkey by Presidential Decree No. 583 dated November 28, 2015. The trade measures still remaining in effect include a ban on importation to Russia of certain types of goods originating from Turkey, and restriction on provision of certain types services and performance of certain types of works by Russian legal entities controlled by Turkish persons. The trade measures also include certain travel and work permit limitations for Turkish nationals.
For additional information, please contact Alexander Bychkov of our Moscow office.