Turkey's Halkbank loses latest bid to avoid US prosecution in sanctions case By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 06 2024
0mins
Source: Investing.com
Court Ruling on Halkbank: A U.S. appeals court upheld a ruling allowing the prosecution of Turkey's Halkbank for allegedly helping Iran evade sanctions, rejecting the bank's claim to immunity from such charges.
Allegations Against Halkbank: U.S. prosecutors accused Halkbank of facilitating the transfer of $20 billion in restricted funds and engaging in fraudulent activities, which has strained relations between the U.S. and Turkey.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
