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Lira Crashes As US Reportedly Readying Sanctions Against Turks - Printable Version

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Lira Crashes As US Reportedly Readying Sanctions Against Turks - Zero Hedge - 08-01-2018

Lira Crashes As US Reportedly Readying Sanctions Against Turks

<p>Escalating rhetoric is about to turn into economic actions as Bloomberg reports <strong>Washington has prepared a list of Turkish entities and individuals that it will target should it decide to impose sanctions on Recep Tayyip Erdogan’s government</strong> for imprisoning U.S. citizens and employees of its diplomatic mission, according to two people with knowledge of the matter.</p>

<p>The Lira collapsed to record lows... at <strong>4.972 / USD.</strong></p>

<p><a data-image-external-href="" data-image-href="/sites/default/files/inline-images/2018-08-01_8-54-33.jpg?itok=-geQLBaX" data-link-option="0" href="https://www.zerohedge.com/sites/default/files/inline-images/2018-08-01_8-54-33.jpg?itok=-geQLBaX"><img data-entity-type="file" data-entity-uuid="0c0eeca8-2045-4683-996f-90ac3001eff3" data-responsive-image-style="inline_images" height="251" width="500" srcset="https://www.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/2018-08-01_8-54-33.jpg?itok=-geQLBaX 1x" src="https://www.zerohedge.com/sites/default/files/inline-images/2018-08-01_8-54-33.jpg" alt="" typeof="foaf:Image" /></a></p>

<p>Bloomberg adds that while negotiations to release one of the people, evangelical Pastor Andrew Brunson, are ongoing, the preparation of the so-called “designation packages" <strong>shows how close the U.S. has come to imposing unprecedented penalties against a NATO ally</strong>.</p>

<p>Turkey's ETF is also tumbling...</p>

<p><a data-image-external-href="" data-image-href="/sites/default/files/inline-images/2018-08-01_9-01-47_0.jpg?itok=c_89SGBE" data-link-option="0" href="https://www.zerohedge.com/sites/default/files/inline-images/2018-08-01_9-01-47_0.jpg?itok=c_89SGBE"><img data-entity-type="file" data-entity-uuid="4909e6dd-38b4-4b57-8d92-4a19da71b54f" data-responsive-image-style="inline_images" height="268" width="500" srcset="https://www.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/2018-08-01_9-01-47_0.jpg?itok=c_89SGBE 1x" src="https://www.zerohedge.com/sites/default/files/inline-images/2018-08-01_9-01-47_0.jpg" alt="" typeof="foaf:Image" /></a></p>

<p>Interestingly, <strong>the sanctions are being prepared under the Global Magnitsky Act of 2016,</strong> which allows the U.S. government to target individuals, companies or other entities involved in corruption or human-rights abuses anywhere in the world. Sanctions under the act allow for the seizure of assets in the U.S., travel bans and prohibitions on doing business with U.S. entities.</p>

<p>These is the same method of sanctioning that has been used to target Putin's closest allies.</p><img src="http://feeds.feedburner.com/~r/zerohedge/feed/~4/wsk7gVhNwGs" height="1" width="1" alt=""/>


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