Economics
Turkey Holds Out on Releasing American Pastor
- Market meltdown in Turkey followed U.S. sanctions on ministers
- Turkish officials seek relief for state-run bank, executive
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A Turkish delegation to Washington refused to commit to releasing an American pastor, as both sides sought a way out of an escalating feud, a U.S. official said.
Turkey raised concerns about a state-run lender, Halkbank, that’s under investigation for its role in a scheme to evade U.S. sanctions on Iran and faces the prospect of a large fine by the U.S. Treasury, according to the official, who spoke Wednesday on condition of anonymity. The lira sank about 3 percent on Thursday to a new record.