Turkish lira slips as U.S. moves closer to sanctions over S-400s

FILE PHOTO: Russian President Vladimir Putin (R) shakes hands with Turkish President Recep Tayyip Erdogan during their bilateral meeting on the sidelines of the G20 leaders summit in Osaka, Japan, on June 29, 2019. Yuri Kadobnov/Pool/File Photo/File Photo

ISTANBUL (Reuters) - Turkey's lira briefly slipped on Friday after U.S. lawmakers included mandatory Turkish sanctions in a defence spending bill that moves Washington a step closer to punishing its NATO ally for buying Russian S-400 missile defences last year.

The final version of the $740 billion (550.23 billion pounds) annual U.S. defence spending legislation would oblige the White House to select from a list of sanctions over the S-400s, which Washington says are incompatible with NATO operations.