Published: Thu, August 16, 2018
Finance | By Loren Pratt

Russian FM Lavrov in Ankara to discuss busy Syria agenda

Russian FM Lavrov in Ankara to discuss busy Syria agenda

He also called on the drop its "erroneous position on sanctions imposed on Turkey".

Brunson is at the center of a diplomatic spat between North Atlantic Treaty Organisation allies Turkey and the United States, which has helped trigger a Turkish currency crisis.

The currency tumbled to a record low of around 7.20 lira against the dollar late on Sunday after President Recep Tayyip Erdogan warned of drastic measures if businesses withdraw foreign currency from banks.

Turkey's national currency lira has lost nearly 20 percent of its value against US dollars since Friday, amid ongoing strain between Turkey and the USA over detention of American pastor Andrew Brunson.

Russian Foreign Minister Sergei Lavrov says Syria's government has a right to defend itself against terrorists.

The U.S. Congress also passed a bill prohibiting the sale of F-35 jets to Turkey pending a review assessing the possible risk associated with Ankara's purchase of the S-400 air defense system.

In a direct threat against the White House, Erdoğan warned U.S. president Trump, who signed off the sanctions, of unspecified consequences for punishing Turkey. Back in June Russia and China came to an agreement: "Moscow and Beijing have agreed to raise the share of ruble-yuan trade settlements, in a joint agreement signed by Russian President Vladimir Putin and Chinese leader Xi Jinping.The document envisages "further strengthening of the Russian-Chinese cooperation in the financial sector, promoting increase of the share of national currencies in trade payments, investments and financing, expanding collaboration in such fields as payment systems and insurance".

There has already been several moves by Russian Federation to use currencies other than the dollar in global trade.

These four countries are also known to have been opposing the sanctions of the USA on Iran.

Anadolu reports that, following Turkey's shooting down of an intruding Russian military jet over the Turkey-Syria border in November 2015, Russia imposed a range of unilateral sanctions on Turkey, including a ban on food imports and an end to visa-free travel. "But, objectively, of course, we feel the desire of the West, primarily the United States, but not only it, not to let the Astana process achieve substantive results and portray it as not entirely successful", Lavrov said.

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