BOFIT Viikkokatsaus / BOFIT Weekly 2016/36

On September 1, the US Treasury Department announced an extension of sanctions on Russia for occupation of Crimea. Several Russian firms were added to the sanctions list mostly due to doing business in Crimea. These include firms related to the construction of the Kerch bridge between Russia and Crimea, like Mostotrest, one of Russia’s biggest construction companies. Other additions to the blacklist include defence and maritime firms active in Crimea.

Russia lifted its ban on charter flights to Turkey at the start of this month. Sanctions that remain in place include bans on food imports from Turkey and restrictions on Turkish business activity in Russia.