Some Turkish companies to return to Russian market

Some Turkish companies to return to Russian market

The Ministry of Economic Development has developed a draft decree on the rules of exemptions from the sanctions list for Turkish companies. The document was posted on the official website of draft regulatory and legal acts.

The draft regulation includes rules for the selection of contracts with companies under Turkish jurisdiction, and companies controlled by Turkish citizens for which the sanctions, imposed by presidential decree, will be exempt, TASS reports.

The rules prescribed the criteria by which contracts will be allowed for selection. Contracts can apply for exclusion from the list, if there is a ban or restriction regarding their goods and services on the territory of the Russian Federation. Those contracts that can't be signed will affect the performance of the internal and external obligations of the Russian Federation or organizations, may not fall under sanctions. This rule will apply if there is no possibility of replacing the goods and services of the contract from other sources or replacement will lead to disproportionately high costs.

Exclusion will apply to contracts that affect the interests of the Russian Federation's security, a significant number of consumers, when it is impossible to replace them, and the substantial difficulties in this regard with the implementation of economic, technical, financial, innovative programs of Russia and its regions.

The government subcommittee on customs tariff regulation and non-tariff regulation, the protective measures in foreign trade and inter-ministerial Commission under Ministry of Economic Development will be engaged in selection of contracts.

To participate in the selection a Russian company will have to send relevant documents to the Ministry of Economic Development two months before the expected signing of the contract with a Turkish company. Within 30 days, the Commission and Sub-Commission will make a decision on inclusion on the list of exceptions, or refusal to do so.

The list may include dozens of companies. For example, previously the first Deputy Minister of Economic Development, Alexey Likhachev, reported that Sberbank and several large companies had appealed to the Ministry of Economic Development to include them in the list of exemptions from the sanctions of the Russian Federation regarding Turkey.