Concerns Over Halkbank’s Iran-Related Fines

EghtesadOnline: Investors are worried about a US Treasury investigation into majority state-owned Turkish lender Halkbank, which faces a potentially hefty fine for allegations of Iran-sanctions busting.

News ID: ۷۴۵۹۳۷

29 August 2018

The bank has said all of its transactions with Iran were legal, Reuters reported. Turkish Finance Minister Berat Albayrak said on Monday US trade sanctions against Turkey could destabilize the region and ultimately bolster regional terrorism and the refugee crisis. Albayrak also said France and Turkey shared the same position against the unilateral decisions of the United States regarding Iran and that they had decided to take joint measures in this regard. The standoff with the US over an American evangelical Christian pastor detained in Turkey on terrorism charges has exacerbated a crisis related to the Turkish lira, which is down about 40% this year, according to Financial Tribune.