Turkey is running out of time to avert a showdown with the United States over it...
ANKARA - Turkey is running out of time to avert a showdown with the United States over its plans to buy advanced Russian air defenses and spurn a counter-offer from its NATO partner, raising the chance of U.S. sanctions against Ankara.
This week, despite the Central Bank maintaining interest rates well above inflation, Turkey’s currency has fallen 1.5 percent - largely due to renewed concerns over relations with Washington, traders say. If it goes ahead with the Russian deal, Turkey also risks losing delivery of Lockheed Martin F-35 stealth fighter jets and could face sanctions under a U.S. law known as Countering America’s Adversaries Through Sanctions Act .
Turkey says it has already paid Moscow some of the bill, and analysts say Erdogan, who is campaigning for March 31 local elections, would find it hard to back away from the Russian deal now. That means the chance of U.S. sanctions are increasing, defense analyst Can Kasapoglu said, adding that “diplomatic room for maneuver is narrow.”
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