Halkbank Asks US Supreme Court to Toss Out Criminal Case (1)

Turkey’s state-owned Halkbank asked the US Supreme Court to consider tossing out criminal charges accusing the bank of helping Iran evade economic sanctions.

In an appeal docketed at the high court Wednesday, Halkbank contended it is protected from prosecution by sovereign immunity. The filing follows a federal appeals court ruling in October rejecting Halkbank’s arguments.

Prosecutors allege that Halkbank helped free up $20 billion of restricted Iranian funds and helped launder at least $1 billion through the US financial system.

Halkbank shares rose 0.4% to 19.72 liras at opening on Thursday morning in Istanbul.

The appeal centers on an issue ...