“Do you understand the difference between imports and exports?”
No, I don’t. What are these words “export” and “import”? They are new to me.
/SARC
Fool.
Here’s a concept: Economic activity matters.
Ohhh, too complex a concept for you? So sorry.
/I recanted my call for a ZOT earlier. It is now renewed.
Wow, that's profound. The point is that Russia would hurt itself if it stopped sales to Turkey.
The two countries signed a series of strategically important energy deals just a year ago. Chief among them was the Turkish Stream project -- a plan to build a new pipeline to carry Russian gas to Turkey, and then to the huge European market. It is set to replace the South Stream project, which was supposed to run through Ukraine but was canceled last year.
Turkey is the second largest buyer of Russia's natural gas, behind Germany.
Russia is also building Turkey's first nuclear power station, located in Mersin on the south coast of the country. Construction started in April and is expected to be completed by 2020. Under the agreement, signed in 2010, Russia will finance the $22 billion project and then operate the plant.
Both countries are already suffering huge economic turmoil and urgently need a boost, not another shock.
Russia's economy has been slammed by low oil prices and Western sanctions. The International Monetary Fund expects Russian GDP will shrink by 3.8% this year, and by another 0.6% in 2016.
Turkey is not in the best place either. Months of political deadlock after an inconclusive election in June weighed on activity. Growth has slumped in recent years. The IMF expects the economy to grow by just 3.1% this year and 3.6% in 2016 -- way below the 9% it experienced in 2010 and 2011.
I doubt Russia will cut off its nose to spite its face.
I recanted my call for a ZOT earlier. It is now renewed.
LOL. Idiot.