Supreme Court rules Halkbank can be prosecuted for Iran sanctions violations.
The US Supreme Court has ruled that Halkbank, owned by the Turkish government, is not immune from criminal indictment in New York federal court for allegedly violating US economic sanctions on Iran. However, the court has asked a federal appeals court to reconsider whether Halkbank can claim sovereign immunity from prosecution in the US under common law. The indictment alleges that high-ranking Turkish and Iranian government officials participated in the sanctions evasion scheme with Halkbank and its officers.