Qatar Rescues Turkey With $15 Billion

Anna Jefferson
August 17, 2018

The continued detention of Brunson has become a lightning rod in strained relations between Turkey and the USA, leading Washington to slap economic and political sanctions on its North Atlantic Treaty Organisation ally.

The currency strengthened some 2 percent against the dollar, trading at around 5.85 per dollar, hours before Treasury and Finance Minister Berat Albayrak was scheduled to update global investors about the economy.

On Monday the lira hit a record low of 7.2, dragging down other emerging markets currencies.

"U.S. Treasury Secretary Steven Mnuchin assured President Donald Trump at a Cabinet meeting that sanctions were ready to be put in place if Brunson was not freed".

"Pastor Andrew Brunson is an innocent man held in Turkey & justice demands that he be released", Pence tweeted.

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Turkey has sought to persuade the United States to spare Turkey's state-owned Halkbank from a threatened fine for allegedly helping Iran evade U.S. sanctions.

"We have stood together and will continue to do so", he said, making clear the high-level meeting was meant to communicate unequivocal support for Turkey at a critical juncture.

Qatar defied US President Donald Trump on Wednesday and promised to plough $15 billion into Turkish financial markets and banks, amid a collapse in the value of the lira and a looming trade war between Turkey and the United States.

He also urged Brunson to serve as a "great patriot hostage" while he is jailed and criticized Turkey for "holding our wonderful Christian Pastor". We are not going to take it sitting down.

Brownback told Tony Perkins, president of the Family Research Council, on his national radio program Washington Watch Tuesday that the USA has tried to gain Brunson's release through diplomatic efforts but now feels it is necessary to take a tougher stance. But the White House does not plan to lift the metals tariffs, which Sanders said were a national security issue.

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Turkey is calling for the U.S.to extradite a Pennsylvania-based Muslim cleric accused engineering a 2016 coup attempt.

Brunson is being held on terrorism charges, which he denies.

The Turkish lira has become volatile again at the end of a tumultuous week, after the United States warned of more sanctions against Turkey.

Erdogan also spoke with French President Emmanuel Macron, a day after talks with German Chancellor Angela Merkel and a $15 billion pledge of support from Qatar.

The lira lost strength after Mnuchin's remarks.

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Gallego said that Brunson's lawyer had indicated he would be willing to take his client's case to the constitutional court.

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