Published: Sat, August 04, 2018
Money | By Wilma Wheeler

Turkish lira skids past 5 to dollar on USA sanctions move

Turkish lira skids past 5 to dollar on USA sanctions move

Speaking on Friday ahead of the meeting, Secretary of State Mike Pompeo said that U.S. sanctions on Turkey showed America is "very serious" about Brunson's release.

Pompeo told reporters on the sidelines of an Asian security forum in Singapore that the two countries would continue to work with each other in the framework of the alliance and on other matters.

USA media reported there had been a deal with Turkey to free Brunson after Washington's ally Israel released a Turkish woman held on terror charges.

Following the meeting, State Department spokeswoman Heather Nauert said that Pompeo "had a constructive conversation" with Cavusoglu and they " agreed to continue to try to resolve the issues between our two countries".

They said his recent transfer from prison to house arrest was not enough and on Wednesday, the Treasury Department hit Turkey's Justice Minister, Abdulhamit Gul, and Interior Minister, Suleyman Soylu, with sanctions that block any assets they may have in US jurisdictions and bar Americans from doing business with them.

"We have said since the beginning that threatening language and sanctions will not get any result", he said.

Hours before the sanctions were announced, President Recep Tayyip Erdogan accused Washington of showing an "evangelist, Zionist mentality".

"I can say that it was a very constructive meeting", stated Cavusoglu. They have been at odds over numerous matters, including military activity in northern Syria and Turkey's plans to purchase an advanced air defense system from Russian Federation.

Davutoğlu said the US decision is a risky move and "incompatible with the most simple diplomatic courtesy and mutual respect". Andrew Brunson, who has lived in Turkey for two decades, was swept up in a string of arrests in the wake of a failed military coup against Mr. Erdogan in 2016.

Before his move home last week, Brunson, who led a Protestant church in the Aegean city of Izmir, had spent almost two years in jail. The Turkish government accuses Mr Brunson of links to the coup attempt of that year, and he faces up to 35 years in prison if found guilty.

The former prime minister's position echoes that of the Turkish government. "President Trump has made it abundantly clear that the United States expects Turkey to release him immediately".

The Turks have also vowed to retaliate for the sanctions "without delay".

He was accused of helping supporters of Fethullah Gulen, a US -based cleric who Turkish authorities say masterminded the coup attempt in which 250 people were killed. Gulen denies the allegations.

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