Turkish Lira Falls to Record Low After U.S. Sanctions

Angela Merkel with President Erdogan in Instanbul in 2015

Angela Merkel with President Erdogan in Instanbul in 2015GUIDO BERGMANN GETTY

Turkey has waged a two-year effort to have Gulen extradited from the United States.

Brunson, who has lived in Turkey for almost two decades, was arrested later that year and charged with complicity in the attempt to overthrow Erdogan's government.

The sanctions imposed Wednesday target Turkey's Minister of Justice Abdulhamit Gul and Minister of Interior Suleyman Soylu, whom the U.S. Treasury Department claims both played leading roles in the organizations that unjustly detained Brunson.

The US imposed financial sanctions on Turkey's justice and interior ministers yesterday for detaining an American pastor accused of backing a coup attempt against President Erdogan.

"We believe he's a victim of unfair and unjust attention by the government of Turkey", Sanders said of Brunson.

Brunson was accused of helping supporters of Fethullah Gulen, the USA -based cleric who Turkish authorities say masterminded the 2016 coup attempt against President Tayyip Erdogan in which 250 people were killed.

The two officials, Minister of Justice Abdulhamit Gul and Minister of Interior Suleyman Soylu, will have their assets and properties under U.S. jurisdiction blocked and Americans will be prohibited from engaging in financial transactions with them.

As a result of the sanctions, US persons can't engage in transactions with either man and any property of theirs within USA jurisdiction is blocked.

The U.S. sanctions were imposed under the auspices of the Magnitsky Act, originally a tool to punish Russian officials for serious human rights abuses but which is now being applied to human rights abusers worldwide.

But Turkish President Recep Tayyip Erdogan insisted that sanction threats would not force Ankara to take a "step back", in comments reported on Sunday.

Mars is making closest approach to Earth in 15 years today
The teams still have plenty of time to ideal their designs: it could be decades before a manned mission to Mars takes place. The five teams will share the $100,000 award doled out for Level 1-Phase 3 of the overall challenge.

Apple stock jumps after earnings beat
That said, iPhone and iPad sales were close to the same compared to this quarter a year ago , with 41.3 million iPhones shipped. The Mac sales were down by 13 percent to 3.7 million units while the revenue declined by 5 percent to $5.3 billion.

State AG Ferguson to file lawsuit over 3D-printed guns
Cody Wilson , the founder of Defense Distributed, first published downloadable designs for a 3D-printed firearm in 2013. This evening, the company agreed to block Pennsylvania users from its site, following an emergency hearing before U.S.

U.S. President Donald Trump has raised the case directly with Erdogan, Sanders said.

Turkey's foreign ministry said it had shared "necessary information" with the United States, but insisted the case should be left with its judiciary.

Trump, who met with Erdogan last month at a North Atlantic Treaty Organisation summit in Brussels, believed he had made a deal with the Turkish leader that included releasing Brunson in exchange for a Turkish woman being held in Israel on terrorism charges.

"We've seen no evidence that Pastor Brunson has done anything wrong", she said.

"They can not make Turkey back down with sanctions", Erdogan said to Turkish media.

Pompeo said Trump had decided that sanctions were "the appropriate action".

"The US should not forget that unless it changes its attitude, it will lose a strong and honest partner like Turkey", he added.

Last week, Brunson was allowed to leave prison and remain under house arrest, but his request to leave Turkey was denied.

At the same time, the company announced that the sale price will be determined according to the dollar, not the Turkish lira. The pastor has lived in Turkey for more than 20 years.

Latest News