Reuters reveals U.S. ready to sanction Turkey over Russia defense system; market reacts

Reuters was first to report that the United States was set to impose sanctions on Turkey in coming days over its acquisition last year of Russian S-400 air defense systems, a long-awaited move that is likely to worsen already problematic ties between the two NATO allies and complicate relations for the incoming administration of President-elect Joe Biden. A senior Turkish official, reacting to the report, said U.S. sanctions would backfire and harm relations between the two NATO members.