Turkey lira slumps to record lows over United States sanctions

Aug 04, 2018, 09:36
Turkey lira slumps to record lows over United States sanctions

Before the meeting, Pompeo told reporters that he hoped Turkey would see that the sanctions were "a demonstration that we're very serious".

Asked if the issue threatened Turkey's membership of the North Atlantic Treaty Organization (NATO), Pompeo said: "Turkey is a NATO partner whom the United States has every intention of continuing to work cooperatively with".

Speaking to Turkish journalists after his meeting with Pompeo, Cavusoglu also described their discussion as "extremely constructive" and said the two would continue to work toward resolving disputes.

Pompeo discussed the detention of American pastor Andrew Brunson, who has been in custody in Turkey since 2016 on terror charges. "But we have agreed to work together, closely cooperate and keep the dialogue in the coming period".

Foreign Minister Mevlut Cavusoglu, who is set to meet US Secretary of State Mike Pompeo in the next few days, also warned that the move "will not go without response".

"I can say that it was a very constructive meeting", stated Cavusoglu.

Berat Albayrak, Turkey's finance and treasury minister and President Recep Tayyip Erdogan's son-in-law, on Friday played down the idea that strains between the two countries would continue in the long term.

Turkish President Recep Tayyip Erdogan has rejected the USA demands, saying his government won't back down and is willing to "go its own way" if the US acted. "We repeated to them that nothing can be achieved through threatening language and sanctions and we believe that this was well understood", he said.

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. It urged Trump to reconsider the sanctions.

On Wednesday, the White House announced that it was imposing sanctions on Turkish Justice Minister Abdulhamit Gul and Interior Minister Suleyman Soylu.

The pastor denies the charges while U.S. officials have publicly insisted that Brunson is innocent and should be freed. "President Trump has made it abundantly clear that the United States expects Turkey to release him immediately". The sanctions also prevent American citizens from doing any business with the two ministers.

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