‘Trump’s use of sanctions like missiles has a negative effect on financial markets’
The Financial Times reported that US President Donald Trump’s intensified sanctions had the risk of damaging the financial markets and US allies. An expert who spoke to the newspaper likened Trump’s sanctions to ‘fuzey’. ‘
The British Financial Times reported that US President Donald Trump’s intensive sanctions carry the risk of damaging the financial markets and US allies.
Speaking at the newspaper experts, Trump announced last week that new sanctions regarding Russia and Turkey drew attention to the negative effects caused on the financial markets.
It is reminded that the value of the Turkish Lira and Ruble fell immediately after Trump’s sanctions on the two countries last week.
The newspaper adds that the US’s decision to re-enforce sanctions on Iran negatively affects the Iranian Riyal.
According to international law firm Gibsob, Dunn & Crutcher, the US added 944 people and legal entities to the sanctions list last year. It is expected to add another 1000 more this year.
Former Treasury official John Smith from law firm Morrison & Foerster considers this as “almost a perfect storm” to the Financial Times and adds:
“You have global crises that the US is facing, you have a Congress with governance, especially those who are suspicious about Russia, and you have an administration that is not just trying to face your enemies, but your friends as well.”
‘Trump wants to get fast results’
Recalling the Financial Times, Pastor Brunson case, and US sanctions, he notes that the fact that a NATO member is exceptional in his political debate about arresting a US citizen, and that sanctions on Trump’s ministers of a NATO member country are unlikely to be seen.
Daniel Tannebaum FT, working at PricewaterhouseCoopers, an international audit, consulting and tax services firm, is now a former officer of the US Department of the Treasury’s Office for the Control of Foreign Assets, saying that Trump uses sanctions as ‘missiles’: ” you have a president and that’s why you have sanctions. ”
The FT says the aggressive approach, and sometimes the lack of coordination with the allies, is causing difficult turbulence in controlling at financial markets.
Sanctions specialist Richard Nephew of Columbia University gave the example of the US imposed sanctions on the “empire” of Russian businessman Oleg Deripaska in April and interpreted it as “first strike, then ask question.”
The FT writes that these sanctions have created a backlash in markets and foreign capital, and that the US has had to look for new ways to diminish it later.
At the end of the news, experts pointed out that sanctions against Iran would not benefit because the US allies did not support it.
In the news, Peter Harrell of the New American Security Center at the news agency stated that Trump is the only successful example in this respect that he implements sanctions on North Korea through the UN Security Council along with other countries and eventually brings North Korea to the negotiating table.