US: More sanctions on Turkey if pastor not freed

US has warned Turkey to brace for more and severe sanctions if pastor Andrew Brunson is not freed and handed over to America. Treasury Secretary Steven Mnuchin has told President Trump at a Cabinet meeting that the next round of sanctions against Turkey are ready to be brought into implementation.

The relations between two NATO allies were already in doldrums when the detention of US pastor Andrew Brunson pushed it to further depths. Both the nations have slapped tariffs on each-other. Turkey has announced a boycott of US electronics as Turkish Lira took a great hitting and saw a grave downfall. The fall in Lira has also shown ripple effect on the markets across the globe.

US National Security Advisor, John Bolton has also issued a blunt warning to a Turkish ambassador to ensure the release of Brunson and US will not negotiate on the issue. Turkey has tried to negotiate with US and has tried to push US to not to fine the state-owned bank of Turkey for its role in helping Iran to avoid US sanctions in addition to handing over Fethullah Gulen, the Turkish cleric who is suspected mastermind behind 2016 coup against the Turkish President Erdogan.

The dispute has had heavy effects on Lira which had plunged nearly 45 percent this year and had sent the investor sentiment tumbling.

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