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The current Vice President is Fuat Oktay who took office on 10 July 2018.. "And we have every expectation that we will meet with President Erdogan. Turkeys new Vice Presidential office and Executive system was created when approved by vote it June 2018 and it abolished the office of the Prime Minister of Turkey.. Turkish markets the following day were relatively flat, with the country's lira actually firming against the dollar as analysts described the penalties as "not very serious" and "window dressing."As the American delegation heads to Turkey, the vice president is on a mission to convince Erdogan to commit to a ceasefire in northern Syria and pursue a peaceful resolution with U.S.-backed Kurdish militias governing the region that Turkey has long viewed as terrorists. “There’s a cease-fire, or a pause, or whatever you want to call it.”One possible clue that an association with the agreement might not be a winner, especially for a Republican, came from Secretary of State Mike Pompeo, who arrived in Ankara on a separate plane from Mr. Pence, and made it clear he was there strictly in a support role to back up the vice president. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.Trump on Monday signed an executive order sanctioning Turkish officials, hiking tariffs on Turkish steel up to 50% and "immediately" halting trade negotiations with the country. Historic Images Part Number: nex93486 (His trip also extended to Jerusalem and Brussels, and his plane departed before Mr. Democratic and Republican lawmakers and security officials have cast the move as an abandonment of America's Kurdish allies, who served as the chief ground force in the U.S. effort against the so-called Islamic State, and a "win" for Russia, Iran and the Assad regime.Sign up for free newsletters and get more CNBC delivered to your inbox ""It will be a pause in military operations for 120 hours," Pence told reporters at a news conference following a lengthy meeting with Turkey's president, Recep Tayyip Erdogan. And it's important, Maria, we need to have this conversation with him directly."Got a confidential news tip? I think, frankly, the world has underappreciated the severity of those sanctions and how much impact they will ultimately have on the Turkish economy.""We need them to stand down. The vice president is also a statutory member of the Cabinet and National Security Council. What will it look like in historical terms? Privately, they expressed support for his mission. “Jim’s got good Turkish,” Mr. Edelman said.