
Turkish bank appeals Iran sanctions decision to US Supreme Court
NEW YORK, May 5 (Reuters) - Turkey's Halkbank (HALKB.IS), opens new tab asked the U.S. Supreme Court to review a lower court ruling saying it can be prosecuted for allegedly helping Iran evade American sanctions, a U.S.-based lawyer for the bank said on Monday.
The Supreme Court had given Halkbank until Monday to file a petition appealing the October 22, 2024, decision by the 2nd U.S. Circuit Court of Appeals in Manhattan allowing the prosecution.
In a letter to the appeals court, Halkbank's lawyer Robert Cary said the bank has filed the petition. The petition was not available on the Supreme Court's website. Cary did not immediately respond to a request for comment.
Halkbank pleaded not guilty to fraud, money laundering and conspiracy charges over its alleged use of money servicers and front companies in Iran, Turkey and the United Arab Emirates to evade sanctions.
U.S. prosecutors said Halkbank helped Iran secretly transfer $20 billion of restricted funds, converted oil revenue into gold and cash to benefit Iranian interests, and documented fake food shipments to justify transfers of oil proceeds.
Brought in 2019, the case has been a thorn in U.S.-Turkey relations, with Turkish President Tayyip Erdogan calling it an "unlawful, ugly" step.
The countries' ties have soured in the last decade, amid disagreements on Syria, Ankara's ties with Moscow and other matters.
But on Monday, Erdogan and U.S. President Donald Trump each said they had a very productive phone call earlier in the day, and had invited each other to their respective countries.
Halkbank's case is making a second trip to the Supreme Court.
In 2023, that court said Congress' desire to shield foreign countries and their instrumentalities from civil liability under the federal Foreign Sovereign Immunities Act of 1976 did not cover criminal cases.
But in a 7-2 decision, it said the 2nd Circuit should more fully review whether common law immunity shielded Halkbank, leading to last October's ruling.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Rhyl Journal
34 minutes ago
- Rhyl Journal
Luxury UK car makers hit by ‘multiple geopolitical headwinds'
The Society of Motor Manufacturers and Traders (SMMT) said companies such as Aston Martin, McLaren and Morgan are having to cope with volatile trading conditions, decarbonisation rules and production cost pressures. The study found the total turnover of the UK's high-value, small-volume manufacturers in 2024 was more than £5.5 billion, with around nine in 10 of their vehicles shipped overseas. They were responsible for just 4% of the UK's car production, but accounted for 12% of its value. In excess of 15,000 people are employed in high-skilled, well-paid jobs by the companies, the SMMT found. The report stated: 'The UK's small volume manufacturers face a series of challenges … (which) threaten competitiveness and growth.' SMMT chief executive Mike Hawes said: 'Britain's luxury, performance and niche vehicle makers are exemplars of automotive design, engineering and manufacturing – and a quintessential British success story. 'Government rightly recognises the importance of these high-value and iconic brands to the UK economy and, amid multiple geopolitical headwinds, the industry is looking to work together to ensure the sector can not just survive but thrive. 'A successful sector would deliver the economic growth, well-paid jobs and exports that Government craves, helping keep Britain firmly on the global automotive map.' Industry minister Sarah Jones, said: 'Our luxury automotive manufacturers are iconic British brands recognised worldwide, and this report rightly highlights the huge contribution they make to the UK economy. 'We're ensuring our carmakers go from strength to strength as we deliver our Plan for Change, and we've already secured landmark trade deals with the US and India, which will cut tariffs for the sector and create new export opportunities. 'Our modern industrial strategy will set out a long-term plan to support our manufacturers, including by creating the right conditions for increased investment, bringing growth, jobs and opportunities to every part of the UK.' The UK-US trade deal was confirmed in a call between Prime Minister Sir Keir Starmer and US President Donald Trump on May 8. It included American tariffs on UK cars being 10% for the first 100,000 vehicles exported. Mr Trump had previously set the tariff rate on car exports to the US at 27.5%.


Glasgow Times
36 minutes ago
- Glasgow Times
Luxury UK car makers hit by ‘multiple geopolitical headwinds'
The Society of Motor Manufacturers and Traders (SMMT) said companies such as Aston Martin, McLaren and Morgan are having to cope with volatile trading conditions, decarbonisation rules and production cost pressures. The study found the total turnover of the UK's high-value, small-volume manufacturers in 2024 was more than £5.5 billion, with around nine in 10 of their vehicles shipped overseas. They were responsible for just 4% of the UK's car production, but accounted for 12% of its value. In excess of 15,000 people are employed in high-skilled, well-paid jobs by the companies, the SMMT found. The report stated: 'The UK's small volume manufacturers face a series of challenges … (which) threaten competitiveness and growth.' SMMT chief executive Mike Hawes said: 'Britain's luxury, performance and niche vehicle makers are exemplars of automotive design, engineering and manufacturing – and a quintessential British success story. 'Government rightly recognises the importance of these high-value and iconic brands to the UK economy and, amid multiple geopolitical headwinds, the industry is looking to work together to ensure the sector can not just survive but thrive. 'A successful sector would deliver the economic growth, well-paid jobs and exports that Government craves, helping keep Britain firmly on the global automotive map.' Industry minister Sarah Jones, said: 'Our luxury automotive manufacturers are iconic British brands recognised worldwide, and this report rightly highlights the huge contribution they make to the UK economy. 'We're ensuring our carmakers go from strength to strength as we deliver our Plan for Change, and we've already secured landmark trade deals with the US and India, which will cut tariffs for the sector and create new export opportunities. 'Our modern industrial strategy will set out a long-term plan to support our manufacturers, including by creating the right conditions for increased investment, bringing growth, jobs and opportunities to every part of the UK.' The UK-US trade deal was confirmed in a call between Prime Minister Sir Keir Starmer and US President Donald Trump on May 8. It included American tariffs on UK cars being 10% for the first 100,000 vehicles exported. Mr Trump had previously set the tariff rate on car exports to the US at 27.5%.


Daily Mirror
an hour ago
- Daily Mirror
Donald Trump accused of 'ego trip' as 2,000 more National Guard braced
Donald Trump is reportedly set to send a further 2,000 National Guard troops to Los Angeles - despite anarchic riots on city streets this week. California Governor Gavin Newsom has slammed the move, writing on X Mr Trump cares more about his "ego" than "public safety". The post reads: "This isn't about public safety. It's about stroking a dangerous president's ego." But crowds are again clogging up streets in the city, with protesters chanting "Get out of LA" at a row of National Guard troops outside a federal building. The guards have riot shields which read 'California National Guard' and they're warning protesters to stay off the property and stick to the pavement. Some 700 Marines have been drafted in to help the federal response to protests against immigration raids, which got ugly on Sunday night as cars were set alight and police officers were attacked. Protesters continue to chant in front of the row of National Guardsmen blocking the federal building, waving American, Mexican and Guatemalan flags, among others. They're surrounded by graffiti on all the nearby walls filled with expletives. Police helicopters whirl overhead. Chants include "ICE out of LA," "Trump out of LA" and "Shame on you," according to the BBC's reporter at the scene. National Guardsmen are warning people to stay off the property. California Governor Gavin Newsom says that he's been told Donald Trump is sending another 2,000 National Guard troops to LA. "This isn't about public safety. It's about stroking a dangerous president's ego," he said in a post on X, further claiming that those already on the ground are deprived of food and water. I was just informed Trump is deploying another 2,000 Guard troops to first 2,000? Given no food or water. Only approx. 300 are deployed — the rest are sitting, unused, in federal buildings without isn't about public safety. It's about stroking a dangerous…