Sanctional Understanding! Iran and Turkey eye boosting ties as both face increasing US pressures

Tabnak – As the Turkish economy is experiencing tough times due to the pressures imposed by the United States, Turkish officials seem to consider developing ties with another target of US pressures Iran, as an alternative way for conducting international economic interactions.

In this vein, Turkish Foreign Minister Mevlüt Cavusoglu says his country is resolved to expand ties with Iran despite US threats to punish governments that violate recently-restored economic sanctions against the Islamic Republic.

“Time and again we have made it clear that we will not implement US sanctions against Iran,” Cvusoglu said as he met with Iranian President Hassan Rouhani’s special envoy, Mahmoud Vaezi, in Ankara on Thursday.

Before their meeting, Vaezi met with Turkish President Recep Tayyip Erdogan and delivered a message from Rouhani. In the meeting held in the Turkish capital on Thursday night, Vaezi discussed the latest developments surrounding the 2015 nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) after the US withdrawal from the deal and Washington’s new sanctions.

During the session, Vaezi also handed over Iranian President Hassan Rouhani’s written message to Erdogan. The Turkish leader, for his part, hailed the message and said Ankara is resolved to boost cooperation and bilateral relations with Tehran in various areas.

In the same vein, Turkish Energy Minister Fatih Dönmez said Wednesday that Ankara would continue to buy gas from Iran under a long-term supply deal between the two neighbors.

The minister said he was going to raise the issue of “unilateral” sanctions and their effect on Turkey’s energy imports with American officials in upcoming talks in Washington.

Vaezi’s visit to Ankara comes as the Turkish economy itself is facing increasing troubles over the pressures imposed by Washington. According to a report by The New York Times, Turkey’s currency plunged Friday — accelerated by a hostile tweet from President Trump — causing financial markets to tremble and showing that the country is as much a risk to the world economy as it is a geopolitical flashpoint.

Internal political turmoil, soaring inflation and a burgeoning conflict with Trump over a jailed American pastor combined to destroy confidence in the Turkish lira, which lost 20 percent of its value against the dollar at one point on Friday, dropping it to a record low.

Turkey’s economy is only the 17th largest in the world, but its problems are worsening as Trump’s trade war is rattling global commerce, damaging longtime alliances and threatening economic growth worldwide.

It should be noted that Iran and Turkey have ramped up efforts in recent years to boost bilateral trade, setting a $30-billion annual trade target and signing several agreements to enhance cooperation in various areas.

Turkey is one of Iran’s major trading partners in the region which has come under pressure from Washington to stop working with Tehran under a fresh wave of US anti-Iran sanctions.