Turkey, France agree to take action against U.S. sanctions on Turkey

Jeannie Matthews
August 19, 2018

The Turkish lira stood at 5.80 per dollar on Friday, up about 0.4 percent against the dollar.

The latest USA announcement came after Turkish Finance Minister Berat Albayrak tried to soothe the markets during an unprecedented conference call with hundreds of foreign investors, insisting Turkey would emerge "stronger" from the currency crisis and would not need an International Monetary Fund bailout.

"They have a great Christian pastor there".

"We have more that we are planning to do if they don't release him quickly", Mnuchin said during a meeting of President Donald Trump's cabinet.

The currency had rebounded some 6 percent on Wednesday after the central bank squeezed lira liquidity in the market, effectively pushing up rates and supporting the currency. "The US wishes to tell the Turkish society that its leader has to be removed".

He has been was accused by Turkey of being part of the 2016 attempted coup which aimed to overthrown the government of Recep Tayyip Erdoğan.

"They should have given him back a long time ago, and Turkey has in my opinion acted very, very badly", Trump told reporters at the White House.

"We're going to continue to apply the pressure until you do", Brownback said.

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Berat Albayrak: Turkey to emerge 'stronger' from currency crisis
Amnesty International says a court in Istanbul has ruled for the release from prison of the rights group's former Turkey chairman. Other products subject to new tariffs include rice and nuts, cosmetics, uncoated paper and machines and mechanical appliances.

Brunson is charged with spying for the PKK - a designated terrorist group in the U.S. and Turkey - and the Fetullah Terrorist Organization (FETO), the group behind the defeated July 2016 coup attempt in Turkey during which 251 people died and thousands were injured.

Qatar defied US President Donald Trump on Wednesday and promised to plough $15 billion into Turkish financial markets and banks.

That move was followed by an announcement by Trump last week that the United States was doubling tariffs on imported Turkish metals.

The lira has lost almost 40 percent of its value against the dollar this year, driven by worries over Erdogan's growing influence on the economy and his refusal to raise interest rates despite high inflation.

U.S. sanctions and the declining lira created panic in the markets but on the streets, many Turks appeared to support the government's retaliatory measures. The envoy also underlined that they have their full trust in Turkey.

Officials reportedly know Brunson's release is the first step to alleviating the diplomatic and economic crises sparked between the two countries, but are aiming for further negotiation with the US.

Ankara, which in 2015 set up a military base in Qatar, sent in troops amid the "Gulf Crisis" in June 2017.

"Turkey has taken advantage of the United States for many years".

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