Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

US Senate defeats bid to stop F-16 fighter jet sale to Turkey

Published 29/02/2024, 21:23
Updated 29/02/2024, 23:25
© Reuters. FILE PHOTO: An F-16 combat jet aircraft of the Turkish airforce takes off at the Air Defender Exercise 2023 at the military airport of Jagel, northern Germany, June 9, 2023. Axel Heimken/Pool via REUTERS/File Photo

By Patricia Zengerle

WASHINGTON (Reuters) -The U.S. Senate on Thursday soundly defeated an effort to stop the $23 billion sale of F-16 fighter jets and modernization kits to Turkey, which President Joe Biden's administration approved after Turkey approved Sweden's joining the NATO alliance.

The Senate voted 79 to 13 against a resolution of disapproval of the sale introduced by Republican Senator Rand Paul.

Before the vote, Paul criticized Turkey's government and said allowing the sale would embolden its "misbehavior." Backers of the sale said it was important for Washington to keep its word to a NATO ally.

The Biden administration formally informed Congress on Jan. 26 of its intention to proceed with the sale of 40 Lockheed Martin (NYSE:LMT) F-16s and nearly 80 modernization kits to Turkey, a day after Ankara fully completed ratification of the NATO membership of Sweden.

The sale had been held up for months over issues including Turkey's refusal to approve Sweden's accession to the military alliance. Turkey first asked to make the purchase in October 2021.

The U.S. Arms Export Control Act gives Congress the right to stop a major weapons sale by passing a resolution of disapproval in both the Senate and the House of Representatives. Although the law has been in effect for half a century, no such resolution has both passed Congress and survived a presidential veto.

Sweden and Finland applied to enter NATO after Russia invaded Ukraine in February 2022. While Finnish membership was sealed last year, Sweden's bid had been held up by Turkey and Hungary. All NATO members need to approve applications from countries seeking to join the alliance.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.