US Supreme Court Refuses to Shield Turkey’s Halkbank From Criminal Case
- Court rejects some of bank’s arguments for sovereign immunity
- Ruling gives state-owned bank new chance at lower court
A pedestrian walks past a Halkbank branch in Istanbul.
Photographer: Nicole Tung/BloombergThis article is for subscribers only.
The US Supreme Court refused to shield Turkey’s state-owned Halkbank from criminal charges that it helped Iran evade economic sanctions, rejecting some of the bank’s sovereign immunity arguments.
The ruling sends the case back to a federal appeals court, where Halkbank will have a chance to press an additional line of argument.