Turkey is taking the necessary measures in response to a slide in the lira (Turkey's currency) and is beginning to see actual results from these steps Erdogan said in a speech at a military graduation ceremony.
There's no need to be a genius to see those behind the volatility in exchange rates, it is an operation against Turkey, Turkish President Recep Tayyip Erdogan said.
The Turkish government and central bank are taking steps to sustain the country's currency, because the continuing diplomatic standoff with the US has damaged investor sentiment and encouraged capital outflows from the country.
Turkish Finance Minister Downplays Economic Risks Amid Ongoing US Spat
The US sanctions have the potential to create problems, including instability in the region, and those steps are being taken intentionally against Turkey for political reasons, according to the Turkish finance minister.
In early August, US President Donald Trump introduced the doubling of steel and aluminum tariffs on Turkey, up to 50 and 20 percent, respectively, which resulted in the Turkish lira falling to a historic new low.
Purchase of S-400s and F-35s
Erdogan has reaffirmed Turkey's intention to purchase S-400s from Russia, despite US pressure.
“When missiles from Syria fell on our territory, our citizens died and were injured, our [NATO] partners began to withdraw the missile defense systems deployed in Turkey. We…
