US Dollar Rises to 5.57 Liras After Erdoğan's Statement on Golan Heights
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After President and Justice and Development Party (AKP) Chair Recep Tayyip Erdoğan criticized US President Donald Trump who said that they will recognize Israel's sovereignty on the Golan Heights, prices of US Dollar and Euro began to increase.
In the wake of the US Federal Reserve Board's (FED) did not change the interest rates, the price of dollar decreased to 5.40 liras yesterday (March 21).
As of 11.50 a.m. today, one US Dollar equals to 5.5736 Turkish Liras.
The price of the dollar has become the highest since January 3, when it was 5.69 liras, according to data from investing.com.
The price of the euro has also risen from 6.21 liras to 6.31 liras after Erdoğan's speech.
İstanbul Stock Exchange lost 2 percent value, retreated to 101,063 points.
What did Erdoğan Say?
Speaking at the opening of the urgent meeting of the Islamic Cooperation Organization's Executive Committee, Erdoğan said the following on the Golan Heights:
"US President Trump's unfortunate statements on the Golan Heights brought the region on the verge of a new crisis, new tensions.
"The Golan Heights has been under Israel's occupation since 1967. Israel's occupation in 1967 forced not only the Arabs but also the Turkmens to migrate from their own land.
"It cannot be thought that Turkey and the ICO will remain silent and come to heel against fait accompli in such a sensitive issue.
"We never allow the occupation of the Golan Heights to be justified, we can't.
What did Trump say?
In a tweet he posted yesterday, Trump said, "After 52 years it is time for the United States to fully recognize Israel's Sovereignty over the Golan Heights, which is of critical strategic and security importance to the State of Israel and Regional Stability!"
Israel PM Benjamin Netanyahu said in response to Trump, "At a time when Iran seeks to use Syria as a platform to destroy Israel, President Trump boldly recognizes Israeli sovereignty over the Golan Heights. Thank you, President Trump!"
After 52 years it is time for the United States to fully recognize Israel's Sovereignty over the Golan Heights, which is of critical strategic and security importance to the State of Israel and Regional Stability!
— Donald J. Trump (@realDonaldTrump) March 21, 2019
At a time when Iran seeks to use Syria as a platform to destroy Israel, President Trump boldly recognizes Israeli sovereignty over the Golan Heights. Thank you President Trump! @realDonaldTrump
— Benjamin Netanyahu (@netanyahu) March 21, 2019
The Golan Heights issue
Israel occupied the Golan Heights after the Six-Day War in 1967. It annexed the heights in 1981 but the international community did not accept that.
Syria took back a small part of the Golan Heights after the 1973 Yom Kippur War. After the efforts of the United Nations, Israel and Syria agreed to end the conflict in May 1974. According to this agreement, a demilitarized zone has been established at the Syrian part of the Golan Heights.
The United Nations Disengagement Observer Force (UNDOF) stayed there until 2014 when the ISIS attacked the area.
The UNDOF began to return the Golan Heights in August 2018, when Russia also sent military police to the area. (EKN/VK)