Putin erdogan

Erdogan and Putin in a previous meeting
Russian President Vladimir Putin greeted his Turkish counterpart Recep Tayyip Erdogan in Sochi on Monday hailing that relations between the two countries "can be considered completely restored".

Putin said "If over the past year, we had losses in turnover by 43%, then this year, the growth [of the turnover] has increased by 38% only in the first eight-nine months of this year."

The losses came after Russia installed a set of sanctions on Turkey after it downed a Russian aircraft conducting operations against terrorist forces in Syria on 24 November 2015.

According to Erdogan, "every day our relations are developing more and more in the political, military, commercial and cultural-tourist spheres."

For most of 2017 relations between the two states have considerably improved, with NATO-member Turkey often defying the transatlantic organisation in favor of fostering relations with Moscow.