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Russian ministry develops draft of sanction exemption rules for Turkish companies

January 14, 19:50 UTC+3 MOSCOW
Draft regulations comprise rules of selecting contracts with companies under Turkish jurisdiction and companies controlled by Turkish citizens that will be exempted from sanctions
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©  AP Photo/Emrah Gurel

MOSCOW, January 14. /TASS/. Russian Economic Development Ministry developed draft of sanction exemption rules for Turkish companies. The document was posted on the official web portal of draft regulatory acts on Thursday.

Draft regulations comprise rules of selecting contracts with companies under Turkish jurisdiction and companies controlled by Turkish citizens that will be exempted from sanctions introduced by the decree of the Russian president.

Contracts may be exempted from sanctions if failure to execute them affects discharge of domestic or foreign commitments of Russia or [Russian] companies. This rule will be effective if there is no opportunity to substitute other sources for goods and services of the contract or if the replacement is economically unfeasible.

Exemptions will also apply to contracts affecting interests of Russia’s security or a wide range of consumers if it is not possible to make a replacement. or if it could result in significant complications in implementation of economic, technical, financial and innovative programs of Russia and its constituent entities.

Contracts will be screened by the government sub-commission under the Economic Development Ministry. The decision to exempt the contract from sanctions will be formalized through a government resolution.

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