Move is part of coordinated effort with European Central Bank and others to head off potential economic crisis due to coronavirus. The US Federal Reserve stepped in on Sunday to prop up the US economy in the face of the escalating Covid-19 crisis. In its most dramatic move since the 2008 financial crisis the Fed announced it is cutting its benchmark interest rate to near zero and said it would buy $700bn in Treasury and mortgage-backed securities as it attempts to head off a severe slowdown. Source The Guardian
U.S. Secretary of State Mike Pompeo recently warned Iraqi leaders that the U.S. embassy in Baghdad would close and all diplomats removed unless Iraq reins in on attacks by Iranian proxy militias on American military and diplomatic sites. The embassy is located inside Baghdad’s Green Zone. Source Sofrep
Saudi Arabia says it has taken down a “terrorist cell” that had received training from Iran’s Revolutionary Guards, arresting 10 people and seizing weapons and explosives, while Tehran says the allegation is a “complete fabrication”. Source Al Jazeera
In particular, a spokesperson for Turkey’s ruling Justice and Development Party (AKP) accused US Secretary of State Mike Pompeo of unilateralism and said his attitude is inelegant.
Ömer Çelik, the AKP spokesperson, even called on Pompeo to maintain a neutral stance because unilateral visits and statements give the wrong messages.
At the same time, he once again made provocative statements regarding Ankara’s intentions in Greek-Turkish issues in the East Mediterranean. Source Greek Reporter
