Expressing concern about the ongoing military offensive in northern Syria and potential targeting of civilians, the Trump Administration has threatened to impose sanctions on Turkey.
Treasury Secretary Steven Mnuchin told reporters that President Donald Trump would be signing a new executive order, giving the Treasury Department "very significant new sanction authorities" that could be targeted at any person associated with the Government of Turkey.
"This will be both primary and secondary sanctions," he said.
"The president is concerned about the ongoing military offensive and potential targeting of civilians, civilian infrastructure, ethnic or religious minorities. Also, the president wants to make it very clear: It is imperative that Turkey not allow even a single IS fighter to escape," he said.
Mnuchin, however, stressed that there were no sanctions against Turkey as of now.
"At this point, we are not activating the sanctions. But, as the president has said, he will provide very significant authorities based upon the continuing efforts," he said.
The treasury secretary said they were putting the financial institutions on notice to be careful about the possibility of sanctions.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)