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Turkey Letter 17 June 2019 

Foreign Policy: 

  • Turkey says would retaliate against U.S. sanctions over Russian S-400s 
  • Turkish, US defense ministers exchange phone call over F-35s 
  • Mortar Fire Breaks Syria Cease-Fire Negotiated by Russia and Turkey 
  • Turkey says it has already bought Russian defense systems  
  • Turkey won’t bow to US ‘ultimatums’ on Russia missile system 

 

Economy & Energy: 

  • Turkey Keeps Up Spending Spree Before Istanbul Election 
  • EU May Freeze Customs Union Talks With Turkey Over Drilling 
  • Erdogan’s Ally Says Turkey Needs ‘New and Fair’ Currency Regime 
  • Moody’s downgrades Turkey rating to B1, ministry challenges move 
  • Turkey slams southern EU nations on drilling bid off Cyprus 

 

Domestic Politics: 

  • Istanbul Candidates Face Off in First Turkish Debate in 17 Years 
  • Turkey seeks jail terms for two Bloomberg reporters 

 

Foreign Policy 

Turkey says would retaliate against U.S. sanctions over Russian S-400s 

Turkey will “take reciprocal steps” if the United States imposes sanctions over its purchase of Russian S-400 defenses, the Turkish foreign minister said on Friday, marking the latest step toward a standoff between the NATO allies. 

Reuters, Turkey says would retaliate against U.S. sanctions over Russian S-400s, 13 June 2019 


Turkish, US defense ministers exchange phone call over F-35s 

Turkey Defense Minister Hulusi Akar had a phone call with U. S. Acting Secretary of Defense Patrick Shanahan, following the latter’s letter announcing Washington’s decision to cease Turkish participation in the F-35 aircraft project. 

Hurriyet, Turkish, US defense ministers exchange phone call over F-35s , 13 June 2019 


Mortar Fire Breaks Syria Cease-Fire Negotiated by Russia and Turkey 

A cease-fire negotiated between Syrian rebels and government forces in the country’s war-battered northwest was on shaky ground after intermittent bombing and shelling resumed overnight Thursday in Idlib Province, the country’s last piece of rebel-held territory. 

The New York Times, Mortar Fire Breaks Syria Cease-Fire Negotiated by Russia and Turkey, 13 June 2019 


Turkey says it has already bought Russian defense systems  

Turkey has already purchased S-400 defense systems from Russia and hopes they will be delivered in July, Turkish President Tayyip Erdogan said on Wednesday, an announcement likely to ratchet up tensions with NATO ally Washington. 

Reuters, Turkey says it has already bought Russian defense systems, 12 June 2019 


 Turkey won’t bow to US ‘ultimatums’ on Russia missile system 

Turkey’s foreign minister said Thursday his country won’t bow to “ultimatums” after the United States warned Turkey it was excluding it from the F-35 fighter jet program over its deal with Russia to purchase its S-400 missile defense system. 

AP, Turkey won’t bow to US ‘ultimatums’ on Russia missile system, 12 June 2019 


Economy & Energy 

Turkey Keeps Up Spending Spree Before Istanbul Election 

Turkey ran a budget shortfall in May compared with a surplus in the same month last year, a sign authorities kept their stimulus in place to buoy the Middle East’s largest economy before a rerun of Istanbul mayoral elections this month. 

Bloomberg, Turkey Keeps Up Spending Spree Before Istanbul Election, 17 June 2019 


 EU May Freeze Customs Union Talks With Turkey Over Drilling 

The European Union is set to threaten Turkey with retaliation over its drilling activities in the Eastern Mediterranean, adding to signs of deteriorating relations between Ankara and Brussels. 

Bloomberg, EU May Freeze Customs Union Talks With Turkey Over Drilling, 17 June 2019 


Erdogan’s Ally Says Turkey Needs ‘New and Fair’ Currency Regime 

Turkey needs to work on a “new and fair” approach to managing the exchange rate that better suits the country’s economy and its people, according to a key ally of President Recep Tayyip Erdogan. 

Bloomberg, Erdogan’s Ally Says Turkey Needs ‘New and Fair’ Currency Regime, 16 June 2019 


Moody’s downgrades Turkey rating to B1, ministry challenges move 

Moody’s cut Turkey’s sovereign credit rating deeper into “junk” territory on Friday, saying the risk of a balance of payments crisis continued to rise, and with it the risk of a government default. 

Reuters, Moody’s downgrades Turkey rating to B1, ministry challenges move, 15 June 2019 


Turkey slams southern EU nations on drilling bid off Cyprus 

Turkey on Saturday criticized southern European Union nations for urging the EU to consider action against Turkey over its bid to drill for gas in waters where Cyprus has exclusive economic rights. 

AP, Turkey slams southern EU nations on drilling bid off Cyprus, 15 June 2019  


Domestic Politics 

Istanbul Candidates Face Off in First Turkish Debate in 17 Years 

The top two candidates to be Istanbul’s mayor faced off in the nation’s first televised election debate in 17 years on Sunday, trading charges over the outcome of an earlier vote and offering different approaches to economic growth. 

Bloomberg, Istanbul Candidates Face Off in First Turkish Debate in 17 Years, 16 June 2019 


 Turkey seeks jail terms for two Bloomberg reporters 

A Turkish court has accepted an indictment requesting a jail sentence for two Bloomberg reporters and 36 other people after a complaint about the reporters filed by the country’s banking watchdog (BDDK). 

Reuters, Turkey seeks jail terms for two Bloomberg reporters, 14 June 2019