02:00 GMT05 August 2021
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    ANKARA (Sputnik) - Turkish President Recep Tayyip Erdogan said Monday that the "economic blockade" of his country was in fact a continuation of the July 2016 coup attempt, and there were no economic reasons behind the recent devaluation of Turkish lira.

    "Turkey faced an economic blockade. It was clear that the attacks on Turkey, which began on July 15 [2016], will not end, we should be ready for it. In recent years, all the attacks on us may be explained only by the fact that we are resolutely defending our interests," Erdogan said while speaking before Turkish ambassadors in Ankara.

    The Turkish leader said he believed the country's currency would rebind soon.

    "What happened to the lira has nothing to do with the economy and the crises that we had before… Our economy is healthy, it stands and will stand firm. The exchange rate will return to reasonable indicators in the near future," he said.

    He noted that the US actions were incompatible with allied relations with Turkey.

    "On the one hand, you are talking about a strategic alliance, on the other, you are stabbing your partner in the back. We can not accept this, we will not surrender to this manipulation. There are many of those engaged in 'economic terrorism' in the social media. Our prosecutor's office is working on them, they will be found and punished," the Turkish leader said.

    Erdogan added that Turkey would continue to develop relations with Russia, taking into account its own interests.

    READ MORE: Turkey to Seek Legal Action Against Fake News Platforms as Lira Drops — Reports

    On Friday, US President Donald Trump said he had authorized an increase of tariffs on aluminum and steel exports from Turkey, to 20 percent and 50 percent, respectively. Turkish lira tumbled amid news of US sanctions, losing almost 20 percent of its value in 24 hours.

    The relations between Ankara and Washington took a nosedive over the detention of US pastor Andrew Brunson in Turkey about two years ago on suspicion of ties to the movement founded by Islamic cleric Fethullah Gulen, whom Ankara accused of orchestrating the 2016 failed military coup. In late July, Brunson was released from a Turkish prison and placed under house arrest.


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    US, Turkey, Recep Tayyip Erdogan, coup, lira
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