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Germany Imposed Export Limit Against Turkey

July, 23 2018
watermark Economic news

Germany increased its economic sanctions against Turkey and eased down its travel advisory as Ankara’s two-year state of emergency ended. The report from the newspaper Frankfurter Allgemeine Zeitung confirmed that the export limit worth 1.5 billion-euro ($1.7bn) ensures Turkey cannot be renewed for this year according to the German economy ministry.


The assessment was introduced in July 2017 in order to constraint Turkey due to the arrest of five German activists and a German human rights campaigner which further includes the leader of Amnesty International in Turkey. The opposing blocs in Germany denounce that the limit was too weak since the value of export guarantees boosted from 1.1bn euros in 2016 to 1.46bn euros next year.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.