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(Bloomberg) -- With President Joe Biden set to meet Sweden’s prime minister on Wednesday, Turkey rebuffed US attempts to link Ankara’s request to buy F-16 warplanes to its approval of the Nordic nation’s membership in NATO.Most Read from BloombergNYC Air Quality Drops to Unhealthy Levels — But Canadian Fires Aren’t to BlameInstagram Unveils Threads App, a Threat to Musk’s TwitterXi’s Metal Curbs Risk Backfiring as G-7 Seeks China AlternativeBond Yields Higher as Another Rate Hike Signaled: Marke

The US imposed sanctions on Turkey’s defense industry over the purchase of Russian S-400 missiles, a move that’s set to put more strain on a key NATO ally’s military but spares its economy from any punitive action. The sanctions effectively cut off Turkey’s top defense procurement agency from US financial institutions, military hardware and technology. Although the Turkish defense industry as a whole wasn’t targeted, Monday’s punitive action could endanger Turkey’s military clout in its region, after it has built up its army as a member of the North Atlantic Treaty Organizatio...