Erdogan warns of 'econimic war' as lira hits fresh low

04 August, 2018, 18:31 | Author: Edward Snyder
  • Turkey threatens to retaliate over US sanctions in escalating dispute between Nato allies

Relations between the United States and Turkey have plummeted over Brunson, who was in custody for 21 months in a Turkish prison until he was transferred to house arrest last week. "As do all the Americans being held by the Turkish government", he added.

US Secretary of State Mike Pompeo said Saturday he was "hopeful that in the coming days" Turkey would free Brunson.

White House spokeswoman Sarah Sanders told journalists both ministers had "played leading roles in the arrest and detention of Pastor Brunson", who led a Protestant church in the Aegean city of Izmir.

Turkish President Recep Tayyip Erdogan said he will seek worldwide arbitration if the Trump administration fails to deliver the fighter jets.

US Secretary of State Mike Pompeo and Turkish Foreign Minister Mevlut Cavusoglu agreed on Friday to try to resolve a series of disputes, after relations between the North Atlantic Treaty Organisation allies sank to their lowest point in decades.

The sanctions, announced Wednesday, allow the USA government to target individuals and companies involved in corruption or human-rights abuses, which in this case include Turkey's justice and interior ministers.

"Even couples who are married for 40 years do not agree on every issue".




He gave an nearly two hour policy speech in Ankara Friday, without once referring directly to the tensions.

The lira hit a record low of 5.0934 to the dollar, recovering to trade at 5.0605 by 1434 GMT.

His comments came two days after the US imposed sanctions on Turkey's Justice and Interior ministers over the detention of terror-linked USA pastor Andrew Brunson. The penalties also bar any U.S. transactions with the two men.

The case has been followed closely by America's evangelical Christian community, a key part of President Trump's support base. His next hearing is set for October 12. He is facing a 35-year sentence if convicted of the charges of "committing crimes on behalf of terror groups without being a member" and espionage.

Investors are dumping Turkey's national currency, the lira, after Washington imposed sanctions relating to the trial of an American pastor accused of backing terrorism.

The Manbij deal between Turkey and the US focuses on the withdrawal of the PKK-affiliated People's Protection Units (YPG) from the northern Syrian city and stability in the region.

"Everyone's very disappointed. Nobody expected this kind of treatment (toward) two Cabinet ministers", said Ilnur Cevik, a senior adviser to Turkish strongman President Recep Tayyip Erdogan.

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