Turkey 'frustrated with Qatar silence' amid USA sanctions imposed on Ankara

Turkey 'frustrated with Qatar silence' amid USA sanctions imposed on Ankara

Asian stocks retreated to a one-year low on Wednesday as bearish Chinese markets worsened investor sentiment already hurt by Turkey's financial crisis.

Erdogan said on Tuesday the country will boycott U.S. electronic goods in response to United States measures meant to punish Turkey.

The Turkish currency has lost almost 40 percent against the dollar this year, driven by worries over Erdogan's growing influence on the economy and his repeated calls for lower interest rates despite high inflation.

The currency strengthened to around 6.20 lira against the dollar on Wednesday after the government took steps to shore up the currency by reducing the daily limit in bank foreign currency swap transactions and amid news that the finance minister would address foreign investors on Thursday.

Kadir Temiz, an worldwide relations expert at Istanbul Sehir University, said the US-Turkey crisis was an opportunity to step up Sino-Turkish relations.

Turkey's deepening currency run, which some analysts worry may soon morph into a debt repayments crisis, has a good chance of affecting other key markets around the world for one key reason: the country's political importance to the power struggle between the European Union and Russian Federation is even greater than its economic might.

For Alistair George at Edison Investments, Turkey serves as an "example of the effects of tighter U.S. dollar funding conditions in combination with adverse geopolitical developments".

Turkey's currency, the lira, bounced back sharply on Wednesday morning, falling back below six per dollar.

Earlier on Wednesday, Erdogan spoke on the phone with German Chancellor Angela Merkel, the Turkish presidency.

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The NYPD has not released the woman's name pending family notification, but multiple reports have identified her as McHenry . Lyric was also very close to EJ Johnson , the son of Magic Johnson , who she starred alongside on E!'s EJNYC .

"They don't hesitate to use the economy as a weapon", he said.

Turkey is boosting tariffs on imports of certain USA products, including rice, cars, alcohol, coal and cosmetics - escalating a feud with the United States that has helped trigger a currency crisis.

Apple has 22 percent of the smartphone market in Turkey, where 11.4 million units were sold a year ago, according to Ramazan Yavuz, research manager at IDC consultancy company.

The decree said the move brought tariffs to 50 percent on imports of United States rice to 140 percent on hard alcoholic drinks like spirits, 60 percent in leaf tobacco and 60 percent on cosmetics.

"Nevertheless, it must be acknowledged that the government of Qatar is now overlooking the situation in Turkey and did not provide the necessary political and humanitarian support... is this how a friendship should be?" the newspaper's report said.

Turkey and the United States are now experiencing rocky relations following Washington's imposition of sanctions on Interior Minister Suleyman Soylu and Justice Minister Abdulhamit Gul for not releasing Brunson.

Erdogan has reacted to the financial instability by blaming foreign powers, in particularly the United States, a longtime North Atlantic Treaty Organisation ally, which he says is waging an "economic war" as part of a plot to harm Turkey. "Not only with Turkey and Iran, we're also arranging and already implementing payments in national currencies with the People's Republic of China", he said.

This comes after defense attorneys for pastor Andrew Brunson renewed an appeal on Tuesday, ordering the Turkish government to release their client from house arrest and lift his travel ban.

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