Turkish Businesses Warned Sanctions Could Spread; CBRT Reduces $ Sales to SOEs

LOCAL NEWS

• US Ambassador to Turkey warns Turkish Business Council that "sanctions might spread".
• Says 1) Sanctions will remain as long as Turkey insists on S-400 purchase, 2) There is no return from sanctions decision as it passed in Congress 3) there is possibility is could spread to sectors other than energy, agri and pharma where sanctions are most concentrated.
• Notes issue is political, not economic and can only be solved from the top - Ahval
• CBRT cuts $ sales to state energy provider Botas 90% in the last year to rebuild foreign reserves, now $70m down from $958m 5 year average - bbg
• Pentagon vows to scale back Turkey's F-35 component production over the next two years with production opportunities being given to other countries - Ahval
• ForeignMin & US Commerce Sec Ross held a phone call overnight discussing bilateral & economic relations which was requested by Ross - no further info has been provided - Anadolu Agency