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In Russia’s Footsteps? Turkey Dumps US Sovereign Debt as Political Rift Deepens

  • In Russia’s Footsteps? Turkey Dumps US Sovereign Debt as Political Rift Deepens
    by https://sputniknews.com/
    US Treasury reports previously showed that Russia has also drastically decreased its share in the US debt amid a deterioration of relations between the two countries and following a set of harsh sanctions imposed by Washington.

    In June 2018, Turkey significantly decreased its portion of US sovereign debt, having reduced its portfolio from $32.6 billion to $28.8 billion, according to the US Treasury report.  The trend in reducing US debt owned by Ankara started in November 2017, when the country held $61.2 billion worth of US debt.

    The reduction in Turkey’s possession of US sovereign debt is taking place amid a negative trend in bilateral relations between Ankara and Washington. This has been caused by among other things, the S-400 acquisition dispute, sanctions against Turkey’s officials over American pastor Andrew Brunson and tariffs the US imposed on Turkish steel (50%) and aluminum (20%).

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August 16, 2018 - Posted by | Economics | , , , ,

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