When Will Crisis in Moscow-Ankara Relations End?

The crisis in ties between Russia and Turkey will come to an end in March 2016, Turkish Minister of Customs and Trade Bulent Tufenkci said.

The politician underscored that after Russia imposed a ban on food imports from Turkey the Turkish trade ministry has seen a decline in customs payments from exports in December.

At the same time, Turkish producers began exploring other markets, particularly Romania.

"Russia and Turkey are doing everything possible to minimize the negative effect of the sanctions on both countries. The tensions are gradually easing, and we expect them to end in February or March 2016," he told Haberturk.

According to Tufenkci, the restrictive measures imposed by Moscow would have little impact on the banking system, particularly on credit card holders.

After a Russian Su-24 bomber was downed by a Turkish jet over Syria, Russia responded with a set of measures, including a food imports embargo as well as restrictions in tourism, investments, charter flights and a number of construction projects.