U.S. sanctions Turkey over purchase of Russian defense system

Turkey moves away from Europe and NATO and receives sanctions

Turkey moves away from Europe and NATO and receives sanctions

The United States on Monday imposed sanctions on Turkey over its purchase of Russian ground-to-air defenses and targeted the top Turkish defense development body, its president and three employees.

The move, while focused on the defense sector, including Turkey’s Defence Industries Directorate (SSB), has drawn a condemnation from NATO-ally Ankara and is likely to further strain Turkish President Tayyip Erdogan’s relations with Western allies.

The sanctions, first reported by Reuters last week, include a ban on all U.S. export licences as well as asset freezes and visa restrictions for SSB’s president, Ismail Demir, and three other employees.

They threaten to damage Turkey’s economy at a time when it is struggling with a coronavirus-induced slowdown and double-digit inflation.

Ankara acquired the Russian S-400 ground-to-air defenses in mid-2019 and says they pose no threat to NATO allies. Washington disagrees and has long threatened sanctions, and last year removed Turkey from an F-35 jet program.

The U.S. measures announced on Monday under the Countering America’s Adversaries Through Sanctions Act (CAATSA) would be enacted by U.S. President Donald Trump as President-elect Joe Biden prepares to take office on Jan. 20.

Just ahead of the U.S. announcement, Erdogan said the sanctions rhetoric was upsetting. “From our NATO ally the United States, we expect support in our battle against terrorist organizations and forces that have plans for our region, not sanctions,” he said after a cabinet meeting.

BofA experts believe the market could get nervous if the ECB does not show its policy roadmap very clearly The Read more

275 billion euros in their risk assets Big euro area banks have been declaring a deficit of 275 billion euros Read more

A situation fostered by accommodative policies and the overvaluation of multiple assets The still ongoing pandemic has required a war Read more

It is estimated that the demand for rare earths will skyrocket 300% in 2030 Rare earths have been giving people Read more

The Paris Agreement is an agreement on climate change mitigation, adaptation, and finance, signed in 2016 Good news for the weather. After the controversial decision of Read more

Fed officials, determined to restore the job market and push inflation to 2% on a persistent basis

 Fed officials, determined to restore the job market and push inflation to 2% on a persistent basis In the face of a suffering Read more

Treasury Market's Bets on 2021 Reflation Face January  Yields on 10-year U.S. Treasuries surpassed 1.26% on Tuesday for the first Read more

The stock market wants new stimuli since the real economy is bad European markets open weakly on Tuesday, a very Read more

The ECB responds to the manifesto of the economists: forgiving public debt is illegal The deep economic crisis caused by Read more

Biden Hopes to Win G.O.P. Support on $1.9 Trillion Relief Package

Biden Hopes to Win G.O.P. Support on $1.9 Trillion Relief Package Gold was down on Thursday morning in Asia, alongside Read more

Leave a Reply