US court rules Turkiye Halkbank can be prosecuted over Iran sanctions evasion, saying it has no legal immunity

An appeals court in the United States has ruled that the federal government is able to prosecute Turkiye’s state-owned Halkbank over charges of allegedly helping Iran evade sanctions, arguing that the bank does not deserve legal immunity. According to Reuters news agency, the 2nd US Circuit Court of Appeals on Tuesday found no common law basis for foreign state-owned companies to be guaranteed complete immunity from prosecution in the US for crimes related to commercial and non-governmental activities, rather than to simply impose tariffs or to deny military aid to their state sponsors. The decision comes five years after US prosecutors charged Halkbank over allegations of using money servicers and front companies in Iran, Turkiye and the United Arab Emirates […]