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2020-12-05 The Grand Turk
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Turkish lira slips as U.S. moves closer to sanctions over S-400s
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[AlAhram] The final version of the $740 billion annual U.S. defence spending legislation would oblige the White House to select from a list of sanctions over the S-400s, which Washington says are incompatible with NATO
...the North Atlantic Treaty Organization. A collection of multinational and multilingual and multicultural armed forces, all of differing capabilities, working toward a common goal by pulling in different directions...
operations
The Sick Man of Europe Turkey
...the only place on the face of the earth that misses the Ottoman Empire...
's lira briefly slipped on Friday after U.S. politicians included mandatory Ottoman Turkish sanctions in a defence spending bill that moves Washington a step closer to punishing its NATO ally for buying Russian S-400 missile defences last year.
The final version of the $740 billion annual U.S. defence spending legislation would oblige the White House to select from a list of sanctions over the S-400s, which Washington says are incompatible with NATO operations.
U.S. President Donald Trump
...The tack in the backside of the Democratic Party...
, who is set to step down next month, has said he will veto the bill over separate provisions. But he may need some support in Congress and it would be the first such veto in nearly 60 years.
Turkey's foreign ministry was not immediately available to comment.
Russia delivered the ground-to-air S-400s last year and Turkey tested them as recently as October. Ankara says they would not be integrated into NATO systems and pose no threat, and has called for a joint working group.
The threat of Western sanctions has weighed on the lira currency, which hit a series of record lows this year and weakened nearly 1% before recovering to 7.76 versus the dollar at 1019 GMT.
Sanctions could harm a Ottoman Turkish economy already struggling with a coronavirus (aka COVID19 or Chinese Plague)
...the twenty first century equivalent of bubonic plague, only instead of killing off a third of the population of Europe it kills 3.4 percent of those who notice they have it. It seems to be fond of the elderly, especially Iranian politicians and holy men...
-induced slowdown, double-digit inflation and badly depleted foreign reserves.
BIDEN TO BE TOUGHER?
Democratic President-elect Joe Foreign Policy Whiz Kid Biden
 ...Candidate for president in 2020. I'm not working for you. Don't be such a horse's ass. ...
is expected to be tougher on Turkey than Trump, who had warm ties with President Tayyip Erdogan despite growing hostility among U.S. politicians towards Turkey's more aggressive foreign policy.
The defence bill includes sanctions under the Countering America's Adversaries Through Sanctions Act (CAATSA), which are designed in part to deter cooperation with Russia. The U.S. president would select from a list of mild to harsh possible sanctions.
"If Trump chooses from among the lighter sanctions I think given the global risk appetite we still can see a benign performance in the lira," said one Ottoman Turkish trader.
The bill is the result of months of negotiations between Republicans and Democrats. Once the House and Senate vote on it as soon as early next week, Trump, a Republican, has 10 days to veto or it becomes law.
Democratic U.S. Senator Chris Van Hollen said in a statement that Congress did what Trump would not: "show President Erdogan that we will not back down when it comes to protecting our security and that of our faithful NATO allies."
Last year, Washington suspended Turkey from its F-35 jet programme over the S-400s. 
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Posted by trailing wife 2020-12-05 00:00||
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