US Prepared to Add Sanctions on Turkey if Pastor Not Released

US dollar banknotes are seen in this

US dollar banknotes are seen in this

Turkey's currency, which had recovered from record losses against the dollar earlier in the week, was down about 5% against the dollar on Friday.

Relations between Ankara and Washington have soured in recent weeks following Washington's imposition of sanctions on Turkish officials over the detention of American pastor Andrew Brunson, who is under house arrest in Turkey on terrorism charges.

Turkish trade minister Ruhsar Pekcan responded to Trump's tweet, telling reporters Friday Turkey would continue to answer to any sanctions from the U.S. "in accordance to World Trade Organization rules".

Relations between Turkey and the U.S. are at a low point over the detention of Andrew Brunson, whom Turkish President Recep Tayyip Erdogan's government accuses of being involved in an attempted coup in 2016.

Turkish President Tayyip Erdoğan called for a boycott of United States technology, such as the iPhone, in response to the additional sanctions and tariffs leveled by the Trump administration.

"They have not proven to be a good friend", Mr Trump said of Turkey during the Cabinet meeting.

According to the Middle East Eye, officials in Ankara are willing to concede to USA demands for the freedom of Andrew Brunson, an evangelical preacher accused of playing a role in the attempted coup there in 2016.

The fate of Andrew Brunson, charged with terror offenses by a Turkish court, also overshadows the predicament of a Turkish-American scientist from NASA and several Turkish workers for the USA diplomatic mission who were arrested in Turkey.

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In the Turkish courts, Brunson has been unsuccessful in arguing for his release, and on Friday had his latest appeal rejected, according to The Associated Press.

A rebound in the Turkish lira was cut short by new threats by Ankara and Washington to impose more sanctions as the dispute over a jailed American pastor shows no sign of being resolved.

A State Department spokesman said Friday that "the USA government is following Pastor Andrew Brunson's case closely, and we continue to provide all appropriate consular services to Mr. Brunson". They came out. They want to hold our wonderful pastor.

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.

When Mr Kilic sought to tie conditions to Mr Brunson's release, Mr Bolton waved them aside and said there would be no negotiations.

Supporters of Brunson, who ran a small church in the Turkish coastal city of Izmir, say allegations that he was linked to Kurdish rebels as well as Turkish cleric and alleged coup plotter Fethullah Gulen are absurd. When U.S. rates are higher, investors feel less need to head to emerging markets in search of higher returns.

Turkey has sought to persuade the United States to spare Turkey's state-owned Halkbank from a threatened fine for allegedly helping Iran evade USA sanctions.

Albayrak spoke Thursday with his German counterpart Olaf Scholz and they agreed to "take steps in order to reinforce economic cooperation", Albayrak's office said.

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