President Recep Tayyip Erdogan on Saturday insisted that Turkey did not want to see a "lose-lose" scenario emerge in ties with the United States after Washington slapped sanctions on Turkish ministers and he ordered retaliation.

"We don't want to be a party to lose-lose games. Moving political and judicial disputes into an economic dimension will be harmful for both sides," Erdogan said in a televised speech, in a possible attempt to quell any further escalation of the crisis.