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Turkey’s Halkbank, US Justice Department Agree to Resolve Criminal Charges, Judge Says
Halkbank faces charges of helping Iran evade $20 billion in U.S. sanctions through fraud and money laundering, with a deferred prosecution deal avoiding trial if conditions are met.
- On Monday, the U.S. Justice Department agreed to resolve its long-running criminal case against Turkish state-run lender Halkbank in a deferred prosecution agreement disclosed in a court filing.
- U.S. prosecutors originally charged Halkbank in 2019 with fraud, money laundering and conspiracy, alleging $20 billion in secret transfers and linked prosecutions involving Reza Zarrab and Mehmet Hakan Atilla.
- A long circuitous path through U.S. courts left immunity questions unresolved, with Manhattan-based U.S. District Judge Richard Berman ruling in 2020 that Halkbank lacked immunity, and the U.S. Supreme Court temporarily voided the prosecution in 2023 before the appeals court found no sovereign-immunity shield in October 2024.
- The deal may ease a diplomatic irritant between the U.S. and Turkey, Erdogan said after meeting Trump, as Halkbank shares surged 10% on the Istanbul exchange.
- The case tests legal limits of foreign sovereign immunity under the FSIA, as prosecutors argue Halkbank's commercial misconduct falls outside its protections; appellate and U.S. Supreme Court rulings in October 2025 allowed prosecution.
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Turkey’s Halkbank: US agrees to end lawsuit over Iran sanctions
Turkey's Halkbank said it had reached an agreement with the US Department of Justice to settle a years-long criminal case against the state-run bank over violating sanctions on Iran. Under the terms of a deferred prosecution agreement (DPA), the bank "will not admit to any criminal offences, nor will it pay any judicial or administrative fines", the bank said on X late Monday. The move effectively seeks to draw a line under a case that has been …
·London, United Kingdom
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A no-prosecution agreement between the US and Turkey's Halkbank paves the way for an end to the long-running Iran sanctions violation case, without fines or admission of guilt.
Coverage Details
Total News Sources20
Leaning Left3Leaning Right7Center2Last UpdatedBias Distribution58% Right
Bias Distribution
- 58% of the sources lean Right
58% Right
L 25%
C 17%
R 58%
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