Page 19 - TURKRptNov19

2.10​ ​Business and consumer confidence surveys
2.11​ ​Politics - shorts
Work to construct Turkey’s first nuclear power plant, Akkuyu, is entirely on schedule, Russian Deputy Foreign Minister Alexander Grushko has said. ​In August, Reuters reported that Russia's largest bank, state-controlled Sberbank, would grant a $400mn, seven-year loan to Rosatom for the $20bn Akkuyu project.
Turkey is Russia’s fifth biggest trade partner and both Moscow and Ankara have said they want to increase the share of local currencies to settle trade deals as both countries are suffering from a deterioration of relations with Washington.
However, the efforts to de-dollarise trade are not going fast. Russia still mainly receives dollars for its exports of goods and services to Turkey, but it now sends rubles to pay for a third of its imports from Turkey.
19​ TURKEY Country Report​ November 2019 ​ ​www.intellinews.com