US can prosecute Turkish bank in Iran sanctions case, US appeals court rules By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 22 2024
0mins
Source: Investing.com
Court Ruling on Halkbank: A U.S. appeals court ruled that Turkey's Halkbank can be prosecuted for allegedly helping Iran evade U.S. sanctions, rejecting the bank's claim of immunity based on its status as a state-owned entity.
Background of Charges: The charges against Halkbank include bank fraud and money laundering related to the alleged transfer of $20 billion in restricted funds for Iranian interests, which has strained U.S.-Turkey relations.
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.
