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White House Calls On Turkey to Release American Pastor Andrew Brunson

17 August 2018

The pastor row is one of several between the North Atlantic Treaty Organisation allies, including diverging interests in Syria and U.S. objections to Ankara's ambition to buy Russian defence systems, that have contributed to instability in Turkish financial markets.

Washington's move came during an ongoing dispute over Turkey's holding of an American pastor for two years. "We are not going to take this sitting down".

Many countries have been the target of similar USA trade measures, Albayrak said, and Turkey would navigate this period with other parties such as Germany, Russia and China.

In an interview with Tanvir Gill of ETNow, Napier said India's macros are better than other emerging markets and Prime Minister Narendra Modi is in a strong position.

What are the latest developments?

On Friday, Turkish Trade Minister Ruhsar Pekcan warned that Ankara would not succumb to new threats from Washington.

"We have responded to (U.S. sanctions) in accordance to World Trade Organization rules and will continue to do so", Pekcan told reporters on Friday.

"Even if tensions between the USA and Turkey are resolved, investors still need to see serious fiscal and monetary measures to restore confidence". In return, President Recep Tayyip Erdogan signed a decree to raise tariffs on American imports including cars, alcohol and tobacco.

In a conference call with thousands of investors and economists, Albayrak - who is Erdogan's son-in-law, said Turkey fully understood and recognised all of its domestic challenges, but was dealing with what he described as a market anomaly. We'll see what happens.

He also accused foreign players of creating "currency plots". He faces 35 years in prison on espionage and terror-related charges.

The US insists the pastor, a long-time Turkish resident, is "a victim of unfair and unjust detention".

Mr Trump described him as "our wonderful Christian Pastor, who I must now ask to represent our Country as a great patriot hostage". Mr Trump tweeted last week. Its leader lives in Pennsylvania and the US has rejected calls from Turkey to have him extradited. The US government and human rights groups have disputed that claim.

Erdogan thanked the emir and the people of Qatar for "standing by Turkey", the official Anadolu news agency reported.

White House Calls On Turkey to Release American Pastor Andrew Brunson