A US appeals court ruled that Turkey’s state-owned Halkbank is not immune from prosecution regarding charges of helping Iran evade US sanctions. The 2nd US Circuit Court of Appeals determined there is no common law basis for such immunity, emphasizing the accountability of foreign corporations in the context of US law.
On Tuesday, a US appeals court reaffirmed that Turkey’s Halkbank is not entitled to immunity from criminal charges related to allegations of facilitating Iran’s evasion of American sanctions. The 2nd US Circuit Court of Appeals in Manhattan dismissed Halkbank’s claim, stating that there is no legal foundation under common law that would grant a foreign state-owned corporation absolute immunity from prosecution for purported criminal actions tied to its commercial endeavors.
Halkbank, a state-owned Turkish bank, has been embroiled in legal disputes stemming from accusations that it played a significant role in helping Iran bypass US sanctions. This case forms part of the broader context of strained US-Turkey relations, particularly as it pertains to financial and diplomatic issues surrounding sanctions enforcement. The decision by the 2nd US Circuit Court of Appeals reflects ongoing efforts by US authorities to hold foreign entities accountable for violations of American sanctions, particularly those impacting national security and foreign relations.
The ruling signifies a critical development in the ongoing legal scrutiny of Halkbank’s actions concerning US sanctions on Iran. It underscores the principle that state-owned enterprises are not automatically shielded from prosecution, thus setting a groundwork for potential further legal challenges against foreign financial institutions in similar contexts.
Original Source: www.jpost.com
