United States official warns of more actions against Turkey if pastor not freed

United States official warns of more actions against Turkey if pastor not freed

United States official warns of more actions against Turkey if pastor not freed

A Turkish court on Wednesday rejected a new appeal to free USA pastor Andrew Brunson, whose detention has sparked a major row between Turkey and the United States, local media reported.

The Turkish lira has dropped to record lows in recent weeks, having fallen some 42 percent so far this year.

The International Currency Exchange (ICE) says it has ran out of Turkish Lira Tuesday as an unprecedented number of Britons travel to Turkey to make the most of the weak Lira.

Finance Minister Berat Albayrak assured global investors on Thursday that Turkey would emerge stronger from its currency crisis, insisting that the country's banks were healthy.

Asian stocks retreated to a one-year low on Wednesday as bearish Chinese markets worsened investor sentiment already hurt by Turkey's financial crisis.

Erdogan issued the call and announced a massive hike in tariffs on us goods this week after the USA raised tariffs on Turkish imports and aimed new sanctions at Turkish officials in the row over American Pastor Andrew Brunson, who remains under house arrest pending his trial in Turkey on charges of espionage and terrorism.

"It's something that we won't forget in the administration", she added.

Erdogan has said Turkey is the target of an economic war, and has made repeated calls for Turks to sell their dollars and euros to shore up the currency.

The White House said on Tuesday President Donald Trump was frustrated that Turkey had not released Brunson.

"We have put sanctions on several of their cabinet members".

The White House stance appeared to give Turkish authorities little incentive to work for the release of Andrew Brunson, a pastor on trial in Turkey on terrorism charges and whose case Turkish officials have always said was a matter for the courts.

Turkey has agreed to buy S-400 surface-to-air missiles from Russian Federation, an unprecedented move by a North Atlantic Treaty Organisation member, which has raised objections from members of both parties of the U.S. Congress and the Trump administration. "The central bank has not done this through a change in the benchmark rates, but they are squeezing liquidity, so the result is the same", Mr Maggio said.

Also helping were moves by Turkey to gain favor with European countries. "If they have iPhones, there is Samsung on the other side, and we have our own Vestel here", he said, referring to the Turkish electronics company, whose shares rose 5 per cent.

Brunson was arrested in October 2016 during a nation-wide purge of suspected dissidents following the aftermath of a failed coup in July 2016. "We will support him until the end".

"If we postpone our investments, if we convert our currency to foreign exchange because there's danger, then we will have given in to the enemy", he said.

However, the currency market's reaction to his conference call - in which he also said Turkey had no plans to seek help from the International Monetary Fund or impose capital controls to stop money flowing overseas - was measured.

He also said the central bank alone won't be able to get price increases down to targeted levels without tighter fiscal policy.

Other videos show a man shooting his iPhone point blank with a handgun, one being burned in a box full of matchsticks and another, circulated online by an Israeli journalist, of a Turkish boy dumping a bottle of Coca-Cola down the toilet - all in solidarity with Erdogan.

Turkey has been hit by a lira crisis fuelled by a fierce row with the United States. Following the meeting, U.S. officials have given no indication that the United States has been prepared to give ground in the standoff between the two countries' leaders.

The White House called the Turkish response a step in the wrong direction and signalled a hard line.

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