7.5 C
Paris
dimanche, avril 11, 2021

“Turkish Lira Slips as U.S Moves Closer to Sanctions Over S-400S ” by Jonathan Spicer

Must read

Marc Pierini: »EU made a mistake by going to Ankara » video interview

Real damage of protocol crisis in the EU-Erdoğan meeting will be on the political level-Marc Pierini-video interview Ahval youtube channel, Hot pursuit, April 7, 2021,...

« Vienne, nid d’espions turcs »par Guillaume Perrier

Guillaume Perrier, Le Point, 8 Avril 2021. Intrigue. Un agent en fuite, une élue menacée… L’ombre des services d’Erdogan plane sur la capitale autrichienne. À...

Nora Seni: « L’UE sacrifie bonnes manières et parité pour ne pas heurter le chef de l’Etat turc »

Nora Seni, pour l'Observatoire de la Turquie contemporaine, 7 avril 2021 Ursula Von der Leyen présidente de la Commission européenne et Charles Michel président...

Fehim Taştekin: « War over economic routes heats up in Syria »

Al-Monitor, 5 Avril 2021, Fehim Taştekin, image: Ghaith Alsayed Syria’s economic collapse is stoking the struggle over commercial routes between government-held areas and US- and...

Today, on 4 December 2020, Jonathan Spicer wrote on Reuters on the U.S. lawmakers’s mandatory Turkish sanctions in a defence spending bill. You can read his article below.

***

ISTANBUL (Reuters) – Turkey’s lira briefly slipped on Friday after U.S. lawmakers included mandatory Turkish sanctions in a defence spending bill that moves Washington a step closer to punishing its NATO ally for buying Russian S-400 missile defences last year.

The final version of the $740 billion annual U.S. defence spending legislation would oblige the White House to select from a list of sanctions over the S-400s, which Washington says are incompatible with NATO operations.

U.S. President Donald Trump, who is set to step down next month, has said he will veto the bill over separate provisions. But he may need some support in Congress and it would be the first such veto in nearly 60 years.

Turkey’s foreign ministry was not immediately available to comment.

Russia delivered the ground-to-air S-400s last year and Turkey tested them as recently as October. Ankara says they would not be integrated into NATO systems and pose no threat, and has called for a joint working group.

The threat of Western sanctions has weighed on the lira currency, which hit a series of record lows this year and weakened nearly 1% before recovering to 7.76 versus the dollar at 1019 GMT.

Sanctions could harm a Turkish economy already struggling with a coronavirus-induced slowdown, double-digit inflation and badly depleted foreign reserves.

BIDEN TO BE TOUGHER?

Democratic President-elect Joe Biden is expected to be tougher on Turkey than Trump, who had warm ties with President Tayyip Erdogan despite growing hostility among U.S. lawmakers towards Turkey’s more aggressive foreign policy.

The defence bill includes sanctions under the Countering America’s Adversaries Through Sanctions Act (CAATSA), which are designed in part to deter cooperation with Russia. The U.S. president would select from a list of mild to harsh possible sanctions.

“If Trump chooses from among the lighter sanctions I think given the global risk appetite we still can see a benign performance in the lira,” said one Turkish trader.

The bill is the result of months of negotiations between Republicans and Democrats. Once the House and Senate vote on it as soon as early next week, Trump, a Republican, has 10 days to veto or it becomes law.

Democratic U.S. Senator Chris Van Hollen said in a statement that Congress did what Trump would not: “show President Erdogan that we will not back down when it comes to protecting our security and that of our faithful NATO allies.”

Last year, Washington suspended Turkey from its F-35 jet programme over the S-400s.

Reporting by Jonathan Spicer; Editing by Ece Toksabay and Gareth Jones

Share the post « “Turkish lira slips as U.S. moves closer to sanctions over S-400s” by Jonathan Spicer »

More articles

Latest article

Marc Pierini: »EU made a mistake by going to Ankara » video interview

Real damage of protocol crisis in the EU-Erdoğan meeting will be on the political level-Marc Pierini-video interview Ahval youtube channel, Hot pursuit, April 7, 2021,...

« Vienne, nid d’espions turcs »par Guillaume Perrier

Guillaume Perrier, Le Point, 8 Avril 2021. Intrigue. Un agent en fuite, une élue menacée… L’ombre des services d’Erdogan plane sur la capitale autrichienne. À...

Nora Seni: « L’UE sacrifie bonnes manières et parité pour ne pas heurter le chef de l’Etat turc »

Nora Seni, pour l'Observatoire de la Turquie contemporaine, 7 avril 2021 Ursula Von der Leyen présidente de la Commission européenne et Charles Michel président...

Fehim Taştekin: « War over economic routes heats up in Syria »

Al-Monitor, 5 Avril 2021, Fehim Taştekin, image: Ghaith Alsayed Syria’s economic collapse is stoking the struggle over commercial routes between government-held areas and US- and...

Marc Pierini « Erdogan veut exclure la question de l’Etat de droit du dialogue avec l’Europe »

A l'occasion de la visite de Charles Michel et de Ursula Van der Leyen à Ankara, Marc Pierini ancien ambassadeur de l'UE en Turquie...
Share This

Share This

Share this post with your friends!