OREANDA-NEWS. According to the Central Bank of Russia, a higher inflation up to the end of 2015 and in the beginning of 2016, expected in the wake of the sanctions will be pretty low - within 0.2-0.4%. Embargo influence on the mid-term inflation forecast will be insignificant.

Turkey's share of certain foodstuffs under embargo starting 1 January 2016 is quite substantial in the market; however, the suppliers still have time to make changes to the geography of deliveries. At the same time, much will depend on the speed and efficiency of activities to organise alternative supplies to replace the banned products.

The Bank of Russia does not expect any substantial influence of the restrictions on the balance of payments and GDP dynamics considering a small share of Turkey in the Russian foreign trade turnover.