International companies are important components of today’s globalized world. Although the world is undergoing a huge globalization process, there are still significant challenges for the international companies. Politics are one of these challenges that hindering the international companies business activities. Although the literature is mainly focused on the countries’ political instabilities and its effect on international companies, home-host countries political relations are also vital for international companies. In this regard, this research focused on November 2015 Turkish-Russian political crisis and its reflections on Turkish company’s business activities in Russia. It is an interesting case since the political crisis between countries was occurred while the economic crisis has been continuing in Russia. In this regard, this research will be a good example in terms of comparing economic and political impacts on business environment as well. The topicality of this thesis, Russia is get thought an economic crisis conditions and Turkish firms had been operating in this circumstances until the November 2015 jet shot down crisis. After that date Turkish companies had to operate both economic and political difficulties due to the crisis. Moreover, normalization process in political relations which is started after 9 August 2016 and still on-going will also be analyzed during the research. The hypothesis of this work is that 2015 Turkish-Russian Political Crisis in short term has brought more difficulties than economic crisis to Turkish companies’ business and management activities in Russia and the effects of the political crisis was not homogenous to firms in terms of their sectors or sizes. The object of the research of this work is business activities of Turkish companies in Russian Federation The subject is 2015 Turkish-Russian Jet Shot down crisis and its reflection on Turkish companies’ business operations in Russia. The methodologies used in the research are: data analyzes, content analysis, historical method, comparison method, surveys and interviews. Main goal is to understand the impact of home-host countries political crisis on Turkish companies’ business activities in Russia by analyzing some economic data with political trends and conducting survey and interviews with Turkish companies in Russian market. Main tasks for the present work: -To analyze the different approaches and studies which were conducted by different authors in terms of explaining the effects of politics on economics and evaluating the impacts of home-host countries political relations on business - To define the impacts of political crisis on business and chronically examined the November 2015 Jet Shotdown crisis between Russia and Turkey. - To search some academic works studied Russian sanctions imposed on Turkish companies and its consequences on Turkish business activities in Russia - To examine the Turkish companies history of business activities in Russian Federation within all aspects. - To research the impacts of Turkish-Russian political crisis on general economic affairs and Turkish companies all business activities in Russia through surveys and interviews. The theoretical part of the work is consisting of books, journals, theses and other publications from various countries. In this regard, different approaches and results from international business studies and different schools from political science such as liberal, realistic and critical theory used to analyze the topic with multiple perspectives. Moreover, since the topicality of the issue a comprehensive online database scanning realized and some important news, analyses, reports and interviews also stated in the literature review. In this regard the strong side of literature is the opportunity to access different opinions from varied world views in the same area. However the weak side of the literature is the limited sources since the topic is a very current issue. The empirical research is based on a case study to analyze Turkish-Russian political crisis on Turkish business activities in Russia. While analyzing this, mixed methods of research is used with the combination of quantitative and qualitative methodology. In this regard, comprehensive online survey with close and open ended questions and face to face interviews with Turkish companies in Russia realized and it is supplied with economic data and statistical research. In this regard, an online survey which is consist of 18 question (16 close ended-2 open ended) was conveyed through email to 1316 firms two times in March 2017 and collected 372 answers in total. Moreover, 8 firms which are identified as distinctive companies in selected sectors such as tourism, construction, textile, food-beverages and retail visited on site and realized face to face interviews.