Erdoğan: Turkey ready to trade with European countries in local currencies

Turkish President Recep Tayyip Erdoğan on Saturday stated that Turkey would commense trade in the local currency after the Turkish lira experienced a sharp decrease in value following an escalating row between NATO allies Ankara and Washington.

“We are preparing to conduct our trade in local currency. If European countries want to get rid of the dollar threat, we are ready to do this with them as well. We will never accept this order that threatens the whole world with an economic war.”

“We have come to today with our people. This is how we will overcome this crisis.”

"You can never bring this nation in line with the language of threats," Erdoğan told a crowd of supporters in the Turkish town of Unye on the Black Sea coast. "I am once again calling on those in America: It is a pity that you choose a pastor over your strategic partner in NATO," he said.

Turkey and the U.S. are currently experiencing rocky relations following Washington’s imposition of sanctions on Interior Minister Suleyman Soylu and Justice Minister Abdulhamit Gul for not releasing American Pastor Andrew Brunson, who faces terrorism charges in Turkey.

After almost 20 months in a Turkish jail, Brunson was moved to house arrest in July by a court. Since then Trump and his vice president Mike Pence have repeatedly called for his release while Ankara said the decision was up to the courts.

Erdoğan stated that the U.S. had threatened Turkey to "hand over Brunson by 6 p.m." on Sunday.

Erdoğan on Saturday repeated a call to Turks to help support the lira to win what he described was a "war of independence".

"If there are dollars under your pillow, take these out. If there are euros, take these out .. Immediately give these to the banks and convert to Turkish lira and by doing this, we fight this war of independence and the future. Because this is the language they understand," he said.

In an opionion piece in the New York Times, Erdoğan warned the U.S. that Ankara had other alternatives as allies.

"Before it is too late, Washington must give up the misguided notion that our relationship can be asymmetrical and come to terms with the fact that Turkey has alternatives. Failure to reverse this trend of unilateralism and disrespect will require us to start looking for new friends and allies," Erdoğan said.

Turkey, home to the Incirlik air base which is used by U.S. forces in the Middle East, has been a NATO member since the 1950s. It is host to a critical part of the Western alliance's missile defence system again Iran.

Erdoğan's spokesman Ibrahim Kalin also said Turkey's efforts to solve the crisis with diplomatic methods have been dismissed by the Trump administration, warning that Washington might completely lose Ankara as an ally.

"The U.S. runs the risk of losing Turkey as a whole. The entire Turkish public is against U.S. policies that disregard Turkey's legitimate security demands. Threats, sanctions and bullying against Turkey will not work," he said.