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Foreign investors flee Turkey

Turkey’s domestic political tensions and mounting rows with Western allies have fueled the flight of foreign investors, exacerbating the country’s economic woes.
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ANKARA, Turkey — The sanctions-busting case against Iranian-Turkish gold trader Reza Zarrab, a former Turkish minister and other prominent suspects kicks off soon in a New York court. As the first hearing nears, tensions between Turkey and the United States are shooting up, atop an unprecedented visa crisis in October. Ankara now charges that the case is an American plot against Turkey, unnerving investors and fueling turmoil in the Turkish economy.

Speaking after a Nov. 20 Cabinet meeting, government spokesman Bekir Bozdag described the case as “a clear plot against Turkey” that lacked a legal basis and is aimed to harm Turkey’s ties with Iran and Russia.

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