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The president expanded the list of companies and contracts which could be exempted from sanctions by the Russian government

Putin amended the decree on the introduction of economic sanctions as for Turkey. The president expanded the list of companies and contracts which could be exempted from sanctions by the Russian government.
If earlier only Turkey had a right to exempt the organizations, now an exception was extended to firms which are controlled by citizens or companies of this country.
Moreover, Putin ordered to determine the type of the organizations under the jurisdiction of Ankara or control of Turkish citizens in accordance with Part 1 and 2 of Article 5 of the Federal Law 29th of April 2008 №57-FZ “protection of competition and FZ on procedures for Foreign Investments in the Business entities
 of Strategic importance for Russian national defense and state security. “
The list of contracts, which are exempted from the penalties are not yet ready. On 24th of December  Prime Minister Dmitry Medvedev said that in the near future waits for a such list from ministries and departments. He also pointed out that in the list should be written down companies “under Turkish jurisdiction or controlled by Turkish companies.” Decree of the President at those time affirmed companies only “under Turkish jurisdiction.”
The decree on the introduction of sanctions as for Turkey was signed after the incident with the Russian Su-24, which was shot down by the Turkish Air Force at the Syrian border. Turkish vegetables, fruits, poultry were banned for an import to Russia. Moscow has also imposed a ban on realization of certain works and services by Turkish companies, the list will be determined by the Cabinet, also restrictions on the employment of Turkish citizens from 1st of January  2016.
Last week, “Kommersant” announced Turkish companies, which were drawn up by the Government in the white list. According to the newspaper, there were Turkish real estate developers. However, as previously wrote RBC, for Turkish construction companies will be more difficult to transact business in Russia since 2016. The Russian authorities will let them to complete current contracts, but to conclude a new one it is necessary to get special permit.
Since 1st of January 2016 will be introduced the visa regime and banned charter flights between Russia and Turkey. Moreover, Russian tour operators should avoid selling tours in the Turkish destination.


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