World News

Turkey dollar bonds suffer fresh losses over USA sanctions fears

Turkey dollar bonds suffer fresh losses over USA sanctions fears

"By accepting delivery of the S-400 from Russia, President Erdogan has chosen a perilous partnership with Putin at the expense of Turkey's security, economic prosperity and the integrity of the North Atlantic Treaty Organisation alliance", the chairmen and ranking members of the Senate Armed Aervices Committee and Senate Foreign Relations Committee said in a statement.

Another probable explanation, according to the Die Welt correspondent, is that the Turkish president wants to steer clear of the United States as the S-400 systems might be stationed near the country's capital.

The US has found itself at odds with Turkey before, but this situation is not without new challenges. The ministry tweeted about the landing of a fifth, sixth and seventh Russian cargo aircraft at Ankara's Mürted Air Base, which was used by putschist soldiers during the foiled coup attempt that took place on July 15, 2016. State Department spokesperson Morgan Ortagus warned earlier this week of "real and negative consequences" if the Russian missiles are procured.

The U.S. has also threatened sanctions over the S-400 purchase, with Turkey responding that any sanctions would be met in kind.

Turkey's President Recep Tayyip Erdogan (L) and US President Donald Trump at a bilateral meeting on the sidelines of the G20 Summit in Osaka, Japan, on June 29, 2019.

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Turkey has urged the formation of a commission to clarify any technical issues, but the US has failed to respond to this proposal.

The acting USA secretary of defense, Mark Esper, said Washington was aware that Turkey began taking delivery of a Russian-made system. The mounting diplomatic pressure is seeing Ankara push back, saying it will not bow to worldwide pressure and as a sovereign nation, it has the right to buy whatever it wants from any country.

By now, Turkey has ordered 30 out of possible 100 US F-35 fighters, multi-role stealth fighter jets capable of carrying nuclear weapons.

Notably, the commitment to the S-400 deal found support even in Turkey's opposition Republican People's Party, as its leader Kemal Kilicdaroglu backed the efforts to ensure the country's security and slammed the U.S. for its refusal to sell Patriots to Ankara.


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