Qatar Gives Turkey Financial Lifeline; No End in Sight for Diplomatic Crisis

Turks Break iPhones into Pieces in Response to Erdogan’s Call

Turkey's crisis has been a long time coming — and will likely take a long time to resolve

"We have stood together and will continue to do so", he said, making clear the high-level meeting was meant to communicate unequivocal support for Turkey at a critical juncture. He also said on Friday that he had ordered to double U.S. tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively.

A Turkish court once again rejected an appeal for Brunson's release on Wednesday.

The US comments came after finance minister Berat Albayrak, Mr Erdogan's son-in-law, assured investors on Thursday that Turkey would emerge stronger from its currency crisis, insisting its banks were healthy and signalling it could ride out the dispute.

"We have put sanctions on several of their cabinet members", Mnuchin told President Donald Trump in a cabinet meeting attended by the press, including AFP. His transfer to house arrest came after Trump asked Israeli Prime Minister Benjamin Netanyahu to assist in Brunson's release, Israeli and U.S. officials told CNN at the time.

Speaking as he left the White House on Friday, Trump told reporters on the South Lawn: "They have a wonderful Christian pastor".

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A Trump administration official told the Associated Press Thursday that National Security Adviser John Bolton spoke Monday with the Turkish ambassador to the USA telling him to release Brunson.

The Trump administration has said Turkey could face additional sanctions if he isn't quickly released.

The case of Andrew Brunson, an evangelical Christian missionary from North Carolina who has lived in Turkey for two decades, has become a flashpoint of tension between Washington and Ankara and has accelerated a currency crisis that has richocheted through global financial markets.

The turmoil has raised fears of a looming economic crisis in Turkey and prompted alarm that foreign investors in the country, including Qatar, could be hit in the fallout.

Analysts also said the political cost of the investment remained to be seen, given that Qatar is also a United States ally and dependent on Washington for both military and political protection.

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For years Turkish firms have borrowed in dollars and lira to take advantage of lower interest rates.

Economists say Turkey's central bank needs to raise interest rates significantly to strengthen its currency.

"For now, we don't know the details for this investment package, but it's a sign for both Turkish domestic markets and worldwide markets that Qatar has confidence in the Turkish markets", reports Al Jazeera's Sinem Koseoglu, from Turkey's largest city of Istanbul.

Brunson, 50, was indicted by a Turkish court on charges of having links with the Kurdistan Workers' Party (PKK) militant group and the movement of the US-based opposition cleric Fethullah Gulen, whom Ankara accuses of having masterminded the July 2016 coup attempt against Erdogan.

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