The U.S. and Turkey have failed to break their impasse in talks concerning Turkey's plan to deploy a Russian air defense system the Pentagon says could jeopardize U.S. fighter aircraft including Lockheed Martin's (NYSE:LMT) F-35, which Turkish manufacturers helped build.
Turkish officials repeated that the deal with Russia has been signed and is final, while the U.S. has threatened to impose sanctions under legislation that allows the punishment of entities doing business with Russia, and to expel Turkey from the F-35 program.
The Trump administration shocked emerging market currencies last August when it imposed sanctions on Turkey over the detention of an American pastor; sanctions were lifted in November after the pastor's release.
The first batch of Russian S-400 missiles may be delivered as early as June, leaving little time for the dispute to be resolved.
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