War in Ukraine: Turkish companies dissolve in Russia .

Verona ( it ) [ENA] The widely-circulated Turkish newspaper, Hurriyet, reported, quoting the head of the United Turkish Brands Association, Sinan Onsel, that some Turkish brands have shown great interest in opening new stores in Russia after many Western companies abandoned Moscow in the wake of its invasion of Ukraine. Turkey is a strategic ally of Russia, with China, which sees the eastern camp as the best alternative.

“We were contacted by an entity responsible for the group of investors requesting to schedule a meeting to discuss vacancies after the withdrawal of Western brands from Russia,” Onsel said, declaring that “the conditions are right now.” The Russian market is familiar with Turkey, and Onsel added that in the next few days his association will travel to Moscow to try to find some kind of agreement.

“We were contacted by an entity responsible for the group of investors requesting to schedule a meeting to discuss vacancies after the withdrawal of Western brands from Russia,” Onsel said, declaring that “the conditions are right now.” The Russian market is familiar with Turkey, and Onsel added that in the next few days his association will travel to Moscow to try to find some kind of agreement.

Currently, there are 32 Turkish brands in Russia with 655 stores of their own and 2,500 points of sale. After abandoning Western companies, the Russian Council of Shopping Centers announced that the void created could be filled with the arrival of brands from China, Turkey, India and Iran . It is noteworthy that since Russia’s invasion of Ukraine on February 24, Ankara immediately condemned Moscow’s behavior, describing it as “unacceptable”, but decided not to impose sanctions to protect close cooperation, as Turkish government officials said, “The two countries have very important relations in the sectors of trade and in the fields of tourism, agriculture and energy.”