Turkey lira slumps to record lows over US sanctions in pastor case, Ankara vows to respond

[The SC]

• The lira lost over 1.6 percent of its value against the dollar following Washington’s move
• US hit Turkey’s justice and interior ministers with sanctions over the case of an American pastor on trial for terror-related charges

ANKARA: The Turkish lira on Wednesday slumped to record lows of 5.0 against the dollar as the US hit Turkey’s justice and interior ministers with sanctions over the case of an American pastor on trial for terror-related charges.

The lira lost over 1.6 percent of its value against the dollar following Washington’s move in response to Turkey keeping Pastor Andrew Brunson under house arrest.

Before his move home last week, Brunson, who led a Protestant church in the Aegean city of Izmir, had spent nearly two years in jail.

After reports that the US would sanction individuals over the case, the lira hit a record low of 5.01 against the dollar, before rallying slightly to 4.9.

It then hit 5.0 again after the official announcement from the White House.

White House spokeswoman Sarah Sanders said that Brunson was a “victim of unfair and unjust attention by the government of Turkey” as she announced sanctions.

“At the president’s direction, the Department of the Treasury is sanctioning Turkey’s minister of justice and minister of interior, both of whom played leading roles in the arrest and detention of Pastor Brunson,” she told journalists.

The sanctions freeze any property or assets on US soil held by the two ministers, and bar US citizens from doing business with them.

US President Donald Trump and his Vice President Mike Pence had threatened Turkey with “large sanctions” last week if Brunson was not immediately released.

His lawyer’s appeal for his release was rejected this week.

Brunson faces up to 35 years in jail on charges of carrying out activities on behalf of two terror organizations — the group led by US-based Fethullah Gulen blamed for the July 2016 failed coup and the Kurdistan Workers’ Party (PKK).

The pastor denies the charges while US officials have publicly insisted that Brunson is innocent and should be freed.

Ankara said late on Wednesday night that Turkey would respond to Washington's "hostile" action to impose sanctions on its ministers. It also said that the sanctions would inflict "great damage" on efforts to restore Turkish-American relations.

http://www.arabnews.com/node/1349706/middle-east

 

[Kamil_baku]

i couldnt find you around when Ethiopian prime minister said nice words about UAE..

Actually, its nothing as nobody cares if these two minister will go to the US or not but they make it to pressure Turkish economy which some Gulf fools cant fit into their brain..

 

[Dexon]

currency war is real ...

 

[Yongpeng Sun-Tastaufen]

Not good. Makes F-35 expensive to buy for Turkey.

 

[Jamaal Yelmaaz]

Turkish money and economy is under serious financial attacks due to Turkish foreign polcies that crashing with US and Israel foreign policies in the ME...

So US and Israel will not avoid using every tools that they have againist Turkey...

Currently US have been ruled by a Christian Sionist government so called Evangelist under leadership of Trump that most pro Isarel governtment of all time..

Unless Turkey relations with Israel change to normal level relations between Turkey and US never be normalized as well.

 

[HannibalBarca]

2 years to endure... Not a big deal.

 

[The SC]

i couldnt find you around when Ethiopian prime minister said nice words about UAE..

Actually, its nothing as nobody cares if these two minister will go to the US or not but they make it to pressure Turkish economy which some Gulf fools cant fit into their brain..

That is because you bring in old news from old Ethiopian prime minister and foreign minister, both were replaced.... keep yourself updated so not to say idiocies again..

And this topic is about Turkish currency and the effects of US sanctions.. not Ethiopia..

 

[Jamaal Yelmaaz]

2 years to endure... Not a big deal.

Think the same. We may suffer 2-3 years...But Hardness will teach us to survive in economic.

Our main handicaps in economic are huge amount of foreign dept of private banks and companies and highly dependence on import of energy...

So High fx prices will compress severly our many prominent deptor companies, banks and
Will disrupt implementing some macro goals such as increasing inflation and interest rates by government....

So they know well most soft place of our abdomen...That is why they insist on attacking our currency.


Not only the one but May be the first reason of this situation is the foreign policy of Erdogan government relate to palestain that made Turkey-Israel enemy to each other......
So Israel hits us behind the thick curtains by setting US againist Turkey....

 

[Fenasi Kerim]

That is because you bring in old news from old Ethiopian prime minister and foreign minister, both were replaced.... keep yourself updated so not to say idiocies again..

And this topic is about Turkish currency and the effects of US sanctions.. not Ethiopia..

Why are Arabs so obsessed with Turkey and Iran? Always negative news while you would be praising in threads a Saudi lizard eating championship lol