US court refuses to drop Turkish bank aiding Iran charge

US court refuses to drop Turkish bank aiding Iran charge
US court refuses to drop Turkish bank aiding Iran charge

A US appeals court on Friday rejected Turkey’s state-owned Halkbank’s request to overturn its conviction for helping Iran evade US sanctions.
The Second Circuit of the US Court of Appeals said that even if the Foreign Sovereign Immunities Act immunizes Halkbank, the charge against it necessitates the commercial activity exception.

Prosecutors accused Halkbank of turning oil revenue into gold, and then into money to serve Iranian interests, and documenting fake food shipments, to justify the oil revenue transfers.

They also said Halkbank secretly helped Iran transfer $20 billion in restricted funds, including at least $1 billion, through the US financial system.

Source

court refuses drop Turkish bank aiding Iran charge

 
For Latest Updates Follow us on Google News
 

PREV “We will soon decide whether to allow games in Doha”
NEXT Watch: 110: 112 Dramatic for Brooklyn over the Knicks