1. SOUNDBITE (English) Steven Mnuchin, US Treasury Secretary:
"So I just met with President Trump and he has authorized and will be signing a new executive order giving the Treasury Department in consultation with himself and Secretary Pompeo very significant new sanctions authorities that can be targeted at any person associated with the government of Turkey, any portion of the government. This will be both primary sanctions and secondary sanctions that will be applicable. The president is concered about the ongoing military offensive and potential targeting of civilians, civilian infrastructure, ethnic or religious minorities and also the president wants to make very clear it is imperative that Turkey not allow even a single ISIS fighter to escape. Again I want to emphasize at this point, we are not activating the sanctions. But as the president has said, he will provide very significant authorities based upon the continuing efforts. So he will be signing this, they will be active, we will be working in consultation with the Department of Defense and Department of State to monitoring this very quickly. We are putting financial institutions on notice that they should be careful and that there could be sanctions. Again there are no sanctions at this time but this will be the broadest executive authority is delegated to us."
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2. SOUNDBITE (English) Steven Mnuchin, US Treasury Secretary:
"These are very powerful sanctions. We hope we don't have to use them but we can shut down the Turkish economy if we need to."
The White House is putting Turkey on notice that it could face new "powerful sanctions" and the US. will "shut down the Turkish economy" if Ankara goes too far in its incursion against the Kurds in northern Syria.
Treasury Secretary Steven Mnuchin told White House reporters on Friday that the U.S. hopes it will not have to use its new, expanded sanctions authority that Trump is authorizing.
Trump has been criticized for pulling back U.S. forces from northern Syria before Turkey's offensive this week into Syria to push against Kurdish forces it sees as terrorists. The U.S. backed the Kurdish forces that were the ground forces against Islamic State fighters and guard thousands in detention centers.
Mnuchin said it's important that Turkey not allow a "single" IS fighter to escape.