10/11/2019, 7:47 PM (Source: TeleTrader)
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Mnuchin says Trump ready to impose sanctions on Turkey

In an open warning to Turkey on Friday, United States Secretary of the Treasury Steven Mnuchin told a press conference that the US stands ready to impose "powerful sanctions" on Turkey in light of Ankara's military operation in northern Syria. Although he declined to expand on the specifics, Mnuchin did say that if it has to, the US will "shut down Turkey's economy."

The secretary stressed that President Donald Trump has signed a new executive order which gives officials in his administration "very new significant sanctions authorities," adding that punitive measures have thus far been "authorized" but not yet "activated." Mnuchin added that financial institutions have also been notified of the possibility of introducing the sanctions.

"This is a way of making sure we protect the humanitarian issues and the people on the ground," he underlined.

Breaking the News / GG