Welcome

Halkbank Threatened With U.S. Contempt in Iran Sanctions Case

Dec. 9, 2019, 5:59 PM

A U.S. judge threatened to hold Turkish bank Halkbank in contempt and impose fines for refusing to acknowledge the sanctions evasions charges filed against it by federal prosecutors in New York.

The state-owned bank was indicted in October for allegedly participating in a scheme to help Iran access $20 billion in frozen oil revenue. Since then, Halkbank and its lawyers have refused to accept service of the indictment or the legal summons to appear in court, and neither its lawyers nor executives have entered a plea on its behalf.

Raising the stakes for Turkey, U.S. District Judge Richard Berman set ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.