
Turkish
tanks, reinforced by an aerial bombardment, advanced toward a
stronghold of U.S.-backed Syrian Kurdish fighters on Monday, in an
offensive that’s strained ties with Washington and complicated Russian
efforts to end Syria’s seven-year civil war.
Ignoring
warnings from the U.S., Turkish President Recep Tayyip Erdogan
ordered an incursion into Syria over the weekend, accusing the U.S. of
overarming Kurdish forces and encouraging their separatist aspirations.
Turkish troops and
rebels from the Turkey-backed Free Syrian Army launched a three-pronged attack on the northwest town of Afrin to clear it of the Kurdish fighters. The Kurds led the U.S. campaign to rout Islamic State from Syria, but Turkey regards them as a terrorist menace with designs on its territory.
rebels from the Turkey-backed Free Syrian Army launched a three-pronged attack on the northwest town of Afrin to clear it of the Kurdish fighters. The Kurds led the U.S. campaign to rout Islamic State from Syria, but Turkey regards them as a terrorist menace with designs on its territory.
The
faceoff with the U.S. over Afrin exacerbates already considerable
strains that have tested Turkey’s relations with Washington in recent
years, including a Turkish banker’s conviction in the U.S. on sanctions
violation charges, and U.S. resistance to extraditing a Turkish-born
preacher whom Ankara accuses of instigating a failed 2016 coup.
U.S.
Deputy Assistant Secretary Jonathan Cohen was expected to arrive in
Turkey on Monday for talks, according to Turkey’s foreign ministry.
Turkey’s
intervention in the Afrin area, and declared intention to expand the
campaign to Manbij, where U.S. troops are based, also threatens to open a
new front in the Syrian civil war as Russia tries to end it.
Costly Campaign
The
Kurdish forces are reported to have reinforced Afrin and “the city is
known to have a wide network of tunnels,” QNB Finansbank chief economist
Gokce Celik said in an email on Monday. “In this context, ‘clearing
Afrin’ could take an extended period of time and it might prove
costly.”
“Although
the operation seemed to be well-advertised, the news flow might prove
unnerving for investors in the upcoming period, causing the
underperformance of lira-denominated assets relative to peers,” Celik
added.
The
lira pared a decline against the dollar to 0.1 percent after
sliding as much as 1.1 percent overnight. The yield on the nation’s
five-year bond climbed 5 basis points to a one-month high of 12.78
percent.
The
impact of the military operation on the economy will be “extremely
limited,” Deputy Prime Minister Mehmet Simsek said Monday, adding
that the operation would be short and have a narrow scope.
The
U.S. is “very concerned” about the situation in northwest Syria,
especially the plight of innocent civilians who are now faced with an
escalation in fighting, State Department spokeswoman Heather Nauert
said on Sunday in a statement, urging Turkey “to exercise restraint and
ensure that its military operations remain limited in scope and duration
and scrupulous to avoid civilian casualties.”
Turkey denied reports of civilian casualties.
The
trigger for the offensive was a plan by the U.S.-led coalition against
Islamic State to incorporate Kurdish fighters into a force that would
guard Syria’s border with Turkey. The Turkish government is afraid the
Kurds will use the force as cover to stage attacks on Turkey. It accuses
the Kurds of operating hand-in-hand with the armed PKK group that’s
long fought for autonomy in southeast Turkey and is branded as a
terrorist organization by Turkey, the U.S. and European Union.
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