Published: Sat, August 04, 2018
Business | By Eloise Houston

Turkish lira skids past 5 to dollar on US sanctions move

Turkish lira skids past 5 to dollar on US sanctions move

The row over Mr Brunson escalated last week when US Vice President Mike Pence, like the pastor an evangelical Christian, said Turkey would face "significant sanctions" if this "innocent man of faith" was not freed.

The meeting came on the sidelines of the Association of Southeast Asian Nations (ASEAN) foreign ministers' meeting.

The Turkish foreign ministry called on the United States to reverse its "wrong decision" on Thursday after Washington announced sanctions on Abdulhamit Gul, the minister of justice, and Suleyman Soylu, the minister of interior.

Turkey's foreign ministry said in a written statement on Thursday: "The decision, which disrespectfully intervenes in our judicial system, will seriously damage the constructive efforts made in order to resolve problems between the 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.

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".

Turkish Foreign Minister Mevlut Cavusoglu said he and Pompeo agreed to move forward with diplomatic negotiations.

Cavusoglu also said the countries could take steps in many areas, including Manbij roadmap, working group for the PKK and Syria's Idlib.

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

Turkey has said the sanctions were unacceptable.

Davutoğlu said the USA decision is a risky move and "incompatible with the most simple diplomatic courtesy and mutual respect".

Brunson, who led a Protestant church in the Aegean city of Izmir, denies the charges.

Mr Erdogan has previously tried to swap him for Fethullah Gulen, an Islamic cleric...

The Erdogan government has vowed to retaliate against the US sanctions, announced Wednesday, but has not revealed what they will be. Gulen denies the allegations.

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