Qatar promises $15 billion investment in Turkey

Qatar promises $15 billion investment in Turkey

Qatar promises $15 billion investment in Turkey

If they side with Turkey, they run the risk of antagonizing US President Donald Trump.

A senior U.S. official told CNN that in exchange for Turkey's release of Brunson, Israel agreed to release Ebru Ozkan, a 27-year-old Turkish woman held in Israel on suspicion of aiding Hamas, the Palestinian militant group that controls Gaza.

During the meeting, Trump remarked that Turkey has "not proven to be a good friend".

Mr Trump said: "They want to hold our wonderful pastor".

He said: "I have just authorised a doubling of Tariffs on Steel and Aluminium with respect to Turkey as their currency, the Turkish Lira, slides rapidly downwards against our very strong Dollar!"

"Even if tensions between the United States and Turkey are resolved, investors still need to see serious fiscal and monetary measures to restore confidence". "We haven't seen the last of that".

In this file photograph taken on 25 July 2018, United States pastor Andrew Craig Brunson is escorted by Turkish plain clothes police officers to his house in Izmir.

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The currency has rebounded strongly over the past two days after hitting a record low of 7.24 at the start of the week, thanks to the central bank's measures to support it and Qatar's pledge to invest $15 billion in Turkey.

Even if pastor Brunson returns home some way or another the heavy damage inflicted on Turkish-American relations will not be mended for a long time to come.

The United States was the fourth-largest source of imports to Turkey previous year, accounting for $12 billion of imports, according to International Monetary Fund statistics.

Press secretary Sarah Huckabee Sanders also criticized Turkey's move to impose tariffs on some USA goods as "regrettable and a step in the wrong direction". The Treasury Department earlier this month levied sanctions on two senior Turkish officials in retaliation for Brunson's continued detention.

On Friday, Turkish Trade Minister Ruhsar Pekcan said her government would respond to any new trade duties imposed on the country, whose currency has plunged in recent weeks.

Mr Trump's comments came as Turkey's finance minister Berat Albayrak attempted to reassure 6,000 worldwide investors and economists on a video link that the country would emerge stronger from the crisis. Erdogan has cast the tariffs, and the sell-off in the lira, as an "economic war" against Turkey. "We will pay nothing for the release of an innocent man, but we are cutting back on Turkey!" he Tweeted.

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