Halkbank Rejected by US Supreme Court on Criminal Charges (1)

The US Supreme Court rejected an appeal by Turkey’s state-owned Halkbank, leaving it facing criminal charges that accuse it of helping Iran evade economic sanctions.

The high court without comment refused to consider Halkbank’s contention that it is protected from prosecution by sovereign immunity.

Shares of Halkbank fell as much as 10% before trading 8.3% lower at 26.42 liras as of 5:43 p.m. in Istanbul. If closed around these levels, it will be the biggest drop since March 21.

A pedestrian walks past ATMs outside a Halkbank branch in Istanbul.

Photographer: Nicole Tung/Bloomberg

The decision follows a Bloomberg report that Turkey anticipates settling the dispute with a manageable fine, according to ...