Albayrak's comments came as his father-in-law, President Recep Tayyip Erdogan, said he was in no mood to offer concessions to the UnitedStates in one of the worst spats between the two North Atlantic Treaty Organisation allies in years. "We will not give them the time of day".
The sanctions caused market turmoil, which the central bank attempted - but failed - to soothe with a series of market-boosting measures. "If they have iPhone, the other side has Samsung".
"We will say goodbye to those, who sacrifice its strategic partnership and alliance with a country of 81 million people on the altar of its relations with terror organizations", he said.
Turkey's finance minister Berat Albayrak said the central bank would start implementing an economic action plan, including cutting the lira reserve requirement ratio, a cash buffer held by banks. Erdogan has ruled out an interest rate hike, which can slow economic growth, but analysts say one is urgently needed to stabilize the currency.
Turkey's interior ministry said on Monday that it was taking legal action against more than 300 social media accounts that had posted messages that harmed the lira, local media reported.
The dispute centres on Turkey's refusal to release U.S. pastor Andrew Brunson.
Brunson has been detained under house arrest pending his trial.
"There is the World Trade Organization but when we look at these steps taken [against Turkey] does it have anything to do with the principles of World Trade Organization?" The US has refused to extradite Fethullah Gulen, who lives in Pennsylvania.
USA support for Kurdish rebel groups fighting Islamic State (IS) fighters in northern Syria is another major difficulty, given Turkey's battle against a Kurdish insurgency in its own country.
Since Mr Erdogan first began making the call in mid-December of 2016, the lira has been the world's worst currency, losing about half its value against the dollar and euro.
Manchester United hopeful on David De Gea extension
As things stand, De Gea's current contract runs until 2019 but there is an option to extend that by a further year until 2020. De Gea would also be entitled to a testimonial come the 2021/22 season as he would have been at the club for 10 years.
Turkish lira crisis gets worse with fresh 11% plunge
It confirmed that Kuwait's Finance Minister Nayef Al-Hajraf met with Albayrak at Kuwait International Airport on Sunday evening. In contrast, the Turkish economy grew by 7.4 percent a year ago - quicker than financial growth champions China and India.
What is happening to the lira?
The Turkish lira has lost around 40 percent of its value against the dollar this year, but the financial crisis reached meltdown on Friday after the U.S. doubled tariffs on steel and aluminium imports.
Experts have blamed the sharp slide in the lira on fears the country is descending into an economic crisis. "Fixing the Turkey crisis, however, also means helping these other markets recover at least some of then recent weakness". Meanwhile, inflation has hit 15%. Erdogan's refusal is one of several factors worrying investors.
President Erdogan addressed ruling party members in Trabzon on Sunday and urged businesses not to pull out foreign currencies from banks.
The tariffs are overwhelming to the Turkish economy by themselves, but the levies come as emerging market currencies have already been under pressure this year.
What are Turkish officials doing about the lira?
While Turkey and Argentina face very different political situations, the currencies of both countries have tumbled to all-time lows against the dollar, partly because rising interest rates in the United States lure investors to take money out of their markets and move it to the US.
In May, the central bank raised interest rates to support the lira in an emergency move, but it did not tighten monetary policy at its last meeting.
"The current interest rate level of 17.7 per cent is clearly insufficient to reverse the drop of the lira", he wrote in a research note.
The Mendocino Complex has already become the largest fire in California's history and has destroyed 146 homes. A firefighter monitors a back fire while battling the Medocino Complex fire on August 7, near Lodoga, Calif.
Uzoka was found fatally injured on Old Oak Road, Shepherd's Bush, west London, on the afternoon of 11 January this year. In the security footage, Koh and two friends are seen cornering Uzoka behind a parked auto , holding a large knife.
Some investors have called for the benchmark rate of 17.75 per cent to be jacked up by 1000 basis points. He also took higher interest rates off the table and said Turkey wouldn't accept an worldwide bailout.
Turkey also depends heavily on energy imports, making it vulnerable to rises in oil prices, as are the likes of India. He also emphasized that there was a plan in place for small to medium businesses, which he called the "real" economy.
Scotland Yard said: "At 07:37hrs today, a vehicle was in collision with barriers outside the Houses of Parliament ". They also confirmed a number of pedestrains had been injured, and the male driver had been detained at the scene.
Bangladesh's Dhaka and Nigeria's Lagos were just above at 139th and 138th place, scoring 38.0% and 38.5% respectively. Its many green spaces include lakes with popular beaches and vineyards with sweeping views of the capital.
Nigeria's hope for goals rests on Rasheedat Ajibade, who scored the country's victor against Haiti from the spot in the last game. Nigeria joins Germany in the last eight from Group D, after the Germans finished top of the standings with a maximum nine points.
However, Salah keeps looking at his phone and then continues to use his device for few seconds as he wheels away from the traffic. Liverpool's star man Mo Salah could be in trouble with the police having been caught on his mobile phone in his auto .
While rival fans argued that Salah behaved arrogantly towards the fans, his supporters said that he was entitled to his privacy. Fans, including kids, could be heard jostling for Salah's attention as the Reds star ignored their advances.
Barca have had a busy transfer window so far, having signed Arthur Melo, Clement Lenglet, Malcom and Arturo Vidal. Brown, who played for United over 350 times, does not think the defensive crisis is as bad as people think.
The problem? Many senior advisors were not aware of the photoshoot, and they ultimately banned her from sharing any of the images. Apparently, the incident only brought the Trump's administration's Office of Public Liaison under further scrutiny.
Lionel Messi captains Barcelona in Spanish Super Cup
Sevilla qualified for the match as last season's Copa del Rey runners-up, after Barcelona won the league and cup double. But that was until Dembele let fly from outside the area and his shot thumped in off the crossbar in the 78th minute.
Nicki Minaj drops Tracy Chapman sample track from album
Singer/songwriter Tracy Chapman reportedly blocked Nicki Minaj from sampling her Baby Can I Hold You track on her new album. Colbert then bowed down to Minaj as the audience erupted in applause. "I would say 'I might f**k Stephen after the show".
Shaun Abrahams will know his fate on Monday
Madlanga said ordering Nxasana to return as National Director of Public Prosecutions (NDPP) would prolong instability at the NPA. The court further ruled that Nxasana repay the R10 million he has already received as part of his settlement.
Oppo R17 officially revealed: This is how to do a notch
Moreover, the company has also started teasing the high-end R17 Pro which is said to be coming with triple rear cameras set up. The smartphone also ditches the physical fingerprint scanner at the front or back, and comes with an in-display one instead.
Stocks close lower amid Turkish currency crisis
BBVA is the most exposed, followed by UCG, ING, BNPP and HSBC , whose share price was down 0.8 per cent in afternoon trading. The lira slipped below 7.0 to the U.S. dollar and was down 12 percent on Friday's value at one point this morning.
Koepka holds off Woods to win 100th PGA Championship
Woods admitted he never imagined contending in back to back majors after having spinal fusion surgery a year ago . He outlasted good friend Dustin Johnson at Shinnecock Hills to become the first back-to-back U.S.
Scottsdale Police: James Harden "listed" in downtown incident
Security reportedly broke up the fight. "She took the money, and then she says Harden came up to her and handed her another $300". That is when Harden stepped in and grabbed her by the wrist, took her phone, and proceeded to toss it onto the roof.
New charges expected against Golden State Killer suspect
Shortly after that, investigators believe he moved to the Sacramento area, beginning a new crime wave as the East Area Rapist. At the time of Snelling's murder, DeAngelo worked as a police officer in Exeter, about 12 miles away.
Spider-Man Launch Trailer Features Classic Villains
Marvel's Spider-Man will be taking on his usual rogues' gallery and more in the new launch trailer for the upcoming PS4 game. Information has been trickling in ahead of Marvel's Spider-Man for PlayStation 4's September 7, 2018 debut.