Though the international community urged both sides to restore peace, Ukrainian President Petro Poroshenko submitted a draft law to parliament on December 3. The draft law provides for the termination of the 1997 Treaty on Friendship, Cooperation and Partnership between Ukraine and Russia that would expire in March 2019.
In August, Turkish lira met a sharp drop by 18 percent, the biggest in a single day since the Turkish financial crisis in 2001. The fall of lira came after Trump’s announcement that the tariffs on steel and aluminum imports from Turkey would be doubled. Turkey is the eighth largest steel producer in the world and the sixth largest source of U.S. steel imports.