{"id":36695,"date":"2018-08-16T06:29:35","date_gmt":"2018-08-16T11:29:35","guid":{"rendered":"http:\/\/olduvai.ca\/?p=36695"},"modified":"2018-08-16T06:29:35","modified_gmt":"2018-08-16T11:29:35","slug":"us-sanctions-foster-emergence-of-multipolar-world","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=36695","title":{"rendered":"US Sanctions Foster Emergence of Multipolar World"},"content":{"rendered":"
\"US<\/p>\n

US Sanctions Foster Emergence of Multipolar World<\/a><\/h3>\n<\/header>\n

Russia, Iran, China, and now Turkey are in the same boat, as all have become the target of US sanctions. But none of those nations has bowed under the pressure. Russia had foreseen the developments in advance and took\u00a0timely measures<\/a>\u00a0to protect itself. The Turkish national currency, the lira, is plummeting now that Washington has introduced sanctions as well as tariffs on steel and aluminum, in an attempt to compel Ankara to turn over a detained American pastor. Turkish President Erdogan said it was time for Turkey to seek \u201cnew friends,\u201d and Turkey is planning to issue yuan-denominated bonds to diversify its foreign borrowing instruments. On Aug. 11, President Erdogan said Turkey was ready to begin using local currencies in its trade with Russia, China, Iran, Ukraine, and the EU nations of the eurozone.<\/p>\n

The recent\u00a0BRICS summit<\/a>\u00a0reaffirmed Ankara\u2019s commitment to the Contingent Reserve Arrangement (CRA) that is geared toward de-dollarizing its member states\u2019 economies, and the agreement to quickly launch a\u00a0Local Currency Bond Fund<\/a>\u00a0gives that policy teeth. Turkey has also expressed its desire to join BRICS.<\/p>\n

Ankara is gradually moving toward membership in the Shanghai Cooperation Organization (SCO). It has been accepted as a dialog partner of that organization. Last year Turkey became a dialog partner with ASEAN. On Aug. 1, the first ASEAN-Turkey Trilateral Ministerial Meeting\u00a0was held in Singapore, bringing together Turkish Foreign Minister\u00a0Mevl\u00fct<\/a>\u00a0\u00c7avu\u015fo\u011flu<\/a>,\u00a0ASEAN<\/a>\u00a0Secretary General Dato Lim Jock Hoi, and Singaporean Foreign Minister Vivian Balakrishnan, who is serving as the 2018 ASEAN term chairman.\u00a0The event took place under the auspices of the 51st\u00a0ASEAN<\/a>\u00a0Foreign Ministers\u2019 Meeting that attracted foreign ministers and top diplomats from 30 countries.<\/p>\n

Ankara is mulling over a free-trade area (FTA) agreement with the Eurasian Union. This cooperation between Ankara and the EAEU\u00a0has a promising future<\/a>.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

US Sanctions Foster Emergence of Multipolar World Russia, Iran, China, and now Turkey are in the same boat, as all have become the target of US sanctions. But none of those nations has bowed under the pressure. Russia had foreseen the developments in advance and took\u00a0timely measures\u00a0to protect itself. The Turkish national currency, the lira, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[19390,130,1997,441,13939,694,1109,8203,818,15908,827],"class_list":["post-36695","post","type-post","status-publish","format-standard","hentry","category-geopolitics","tag-arkady-savitsky","tag-china","tag-economic-sanctions","tag-iran","tag-multipolar-world","tag-russia","tag-sanctions","tag-strategic-culture-foundation","tag-turkey","tag-unipolar-world","tag-united-states"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/36695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36695"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/36695\/revisions"}],"predecessor-version":[{"id":36696,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/36695\/revisions\/36696"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}