Erdogan Challenging the United States over the Sanctions

Turkish President Recep Tayyip Erdogan, who attributes the decline of the Turkish lira to an American “conspiracy”, accused Washington Monday of seeking to stab Turkey “in the back”.

“On the one hand, you are with us in NATO, and on the other hand, you are trying to stab your strategic partner in the back,” he said in a speech in Ankara.

Is this acceptable”?

“On the one hand, you say that you are our strategic partner, and on the other hand you are baiting us in the back”.

A diplomatic crisis between Turkey and the United States has been linked to Ankara’s arrest of US Archbishop Andrew Branson, accused of espionage and terrorism.

And demanding his release, Washington imposed early August the unprecedented sanctions against two Turkish ministers responded Ankara.

These tensions contributed to the decline of the Turkish lira, which has lost more than 40% of its value since the beginning of the year.

On Friday, the crisis crossed a new threshold after US President Donald Trump announced double tariffs on steel and aluminum imports from Turkey.

“Even if you are president, you cannot say overnight,” he said.

“I have decided to impose these tariffs on Turkish steel and aluminum”.

“To adopt a hostile attitude to that extent from an ally in the North Atlantic Treaty Organization (NATO) … has no logical justification”, he said, trying to reassure the economic community in his speech.

“Turkey’s economic dynamism is strong, strong and inherent”.

In addition to tensions with Washington, markets are concerned about Ankara’s economic policy, especially the refusal of the Turkish central bank to raise interest rates to support the lira and rising inflation.

In his speech on Monday, Erdogan strongly attacked some Internet leaders for posting on social networking sites comments aimed at damaging the Turkish economy.

“On social networking sites there are economic terrorists.

Our judiciary is moving and we will bring down the punishment they deserve wherever they are”.

The Interior Ministry said it had opened an investigation into 350 Internet leaders suspected of carrying comments that were closer to the “provocation” of the Turkish lira.

Turkey on Monday announced a package of measures to reassure markets after the pound collapsed, while its president Recep Tayyip Erdogan accused Washington of plotting a “political plot” against his country.

“Our institutions will take the necessary measures as of Monday to ease pressure from the markets”, Turkish Finance Minister Berat Albayrak, the president’s son-in-law, said in an interview with the widely-circulated daily Hurriyet.

“We have developed a plan of action for our banks and small and central companies, which are the sectors most affected by the current fluctuations in the currency”, he said.

“As I said before, all our plans are ready” to move and take measures on the current situation.

The Turkish lira fell again in the early hours of Monday in Asia to historic lows where it was traded at 7,2362 liras per dollar at 4,51 (Sunday at 19.51 GMT), after falling to 6.87 Lira to the dollar Friday. But rose slightly to trade around 7 lira to the dollar at about 2.00 GMT.

After several weeks of volatility, the Turkish lira witnessed a sharp fall Friday, losing more than 16% of its value against the dollar.

Erdogan warned on Sunday that he would respond to what he called an “American political conspiracy” against Turkey, the search for new partners and new markets.

The decline of the Turkish currency amid the escalation of tension between Ankara and Washington because of a number of issues at the core of the detention of American priest Andrew Branson, who is tried in Turkey on charges of “terrorism” and “espionage”, and was placed at the end of July under house arrest after his arrest for a year and a half.

“The goal of this process is Turkey’s surrender in all areas from financial to political”.

Erdogan said in a telephone conversation with his supporters in Trabzon on the Black Sea.

Once again we face a political conspiracy.

God willing, we will overcome it”.

He vowed that if Washington was prepared to sacrifice its relations with Ankara, Turkey would respond by “turning to new markets, new partnerships and new alliances against a world-wide trade war involving our country”.

“Some close the door and others open new doors”, said Erdogan, who has worked in recent years to strengthen ties with Latin American countries Africa and Asia.

He hinted that the entire alliance between Turkey, which joined NATO in 1952 with US support, and the United States at stake.

Turkey hosts a large US base in the southern city of incirlik, now used as a center of operations in the war against the organization of the Islamic state.

Turkey is taking over the United States to support the Kurdish People’s Protection Units in Syria, which is fighting the Islamic state, and Ankara considers it a “terrorist”.

“We can only say goodbye to those who decide to sacrifice their strategic partnership and half a century of alliance with a country of 81 million people for their relations with terrorist groups”, Erdogan said.

“Do you dare sacrifice Turkey with a population of 81 million for a priest linked to terrorist groups”?

The United States is demanding the immediate release of a priest facing up to 35 years in prison, while Turkey is demanding extradition of Fathullah Gulen, a resident of the United States for nearly 20 years, whom Ankara accuses of masterminding the coup attempt in July 2016.

In this regard, NATO announced its intention not to interfere in the trade dispute between two of its members – Turkey and the United States – which has caused the Turkish economy to suffer because of a series of US sanctions.

“It’s a bilateral issue and a NATO relationship”, a NATO official said.

At times there are differences between NATO countries, and yet allies can always agree on the core issues: they stand together and protect each other”.

On the other hand, Turkish President Recep Tayyip Erdogan said that the United States, “NATO stabbed in the back”, after the imposition of US President Donald Trump higher tariffs on steel and aluminum on Friday.

“On the one hand, you work together in NATO, and then you try to shoot your strategic partner in the back”, Erdogan told a meeting of ambassadors in Ankara.

We cannot accept that”.