YEREVAN, July 6. /ARKA/. Armenian companies failed to capitalize on sanctions Russia imposed against Turkey last year, economist Vilen Khachatryan told a news conference today.
Russian-Turkish relations deteriorated following the downing of a Russian Su-24 aircraft by a Turkish F-16 fighter jet in Syria on November 24, 2015. In the wake of the incident, Russian President Vladimir Putin signed a decree imposing economic and other measures against Ankara, including ban on imports of Turkish fruits and vegetables.
According to Khachatryan, Armenian exports to Russia in 2015 constituted $244 million. In the first five months of 2016 they were worth $132 million.