Turkish president Recep Tayyip Erdogan addresses the 42nd Mukhtars Meeting at the Presidential Complex in Ankara on December 20, 2017. (Photo by AFP)

BEIRUT, LEBANON (12:45 P.M.) – Turkey will freeze the assets of two U.S. officials in retaliation for Washington sanctioning several Turkish ministers, President Recep Tayyip Erdogan announced on Saturday.

“The latest step taken by the U.S. in the incident of Pastor Brunson in İzmir was not suitable to a strategic partner. The U.S. has displayed a serious disrespect with this step,” Erdoğan said in a speech to the ruling Justice and Development Party’s (AKP) women’s branch congress in Ankara on Aug. 4.

“We have had shown patience until yesterday evening. Today I am instructing my friends that we will freeze the assets of U.S. secretaries of justice and interior in Turkey,” he added.

U.S. Secretary of State Mike Pompeo is scheduled to meet with his Turkish counterpart in the next few days, as they look to settle their issues over Pastor Brunson.

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Willing Conscience

t*t for tat time, this is going to be fun to watch as it escalates.

Daeshbags Sux
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Daeshbags Sux

If it goes to economic sanctions, well, remember how Erdogan rapidly started to bow to Putin? US sanctions are far more hard to cope with, if EU adds to it, ouch, and Erdolf is not very popular there… But when it may be epic is the huge loans Erdolf took, and with usury interest rates, and the uncanny interest rates in Turkey with the Lira falling at the same time, turkey might have showed rapid growth in the last year, in fact, te country is already in recession and on the brink of economical meltdown… If the Yanks do a… Read more »

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Stern Daler

The Turkish loans in foreign currency had no usury interest rates. It is the decline of the Lira that makes them toxic. Turkey growth in the past decade was due to investment based on foreign currency credits. With a trade deficit Turkey all the time needed fresh money to pay interests and loans. This economic growth had elements of a Poncy scheme.

If expatriate Turks and foreign investors do not give foreign currency loans the melt down comes. Sure!

p.s. The same situation as in Greece. If no new credits arrive they are broke. And Turkey has no benevolent EU partners.

Pete
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Pete

LOL. As if anyone outside the sh*thole of Turkey has “assets in Turkey”… Erdogan is brain dead.

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Stern Daler

Wrong. Possibly. Foreign investors own crucial parts of Turkish economy.

p.s. Recently Yatirim Finansman bought for unknown clients: Turkiye Garanti Bankasi AS. That was followed in size by investments in petrochemicals producer Petkim, steelmaker Kardemir, defense equipment producer Aselsan and another steelmaker, Erdemir. Deutsche Bank Tokio daughter also bought heavy. Clients just unknown.
Lira is half of exchange course while firms that have no toxic loans have about the same value as before. Not only I know this and have a closer look. That is how investors make money during a meltdown.

YPG
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YPG

Süfyan Erdogan Game Over.

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Stern Daler

IMHO You are right – we will see.

p.s. To win against YPG – he will need money that he may not have. War costs. LOL.