Turkish exporters have found themselves in a tight spot due to the Russian invasion of Ukraine. Concerned over their businesses, exporters are having their trucks stuck at borders. They are already having difficulties in getting their payments.
The invasion was unleashed early Thursday with a series of missile strikes quickly followed by a ground assault from the north, east and south. Moscow’s action caused a barrage of financial sanctions meant to isolate, punish and impoverish Russia, with punitive measures aiming to impede its ability to do business in the world’s major currencies, namely dollars, euros, pounds and yen.
Both Russia and Ukraine are among the most important markets for Turkey, given the close links in trade, energy and tourism.
This situation is affecting Turkey’s fresh fruit and vegetable sector, with queues of trucks stuck on borders in Ukraine and Belarus. Exporters may have to direct their goods meant for Russia and Ukraine toward the domestic market to avoid spoiling of the fruits and vegetables, said Eastern Black Sea Exporters Association (DKIB) Chairperson Saffet Kalyoncu.
Source: dailysabah.com
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