US to end prosecution of Turkiye’s Halkbank over alleged business with Iran
By John Power
Published on March 10, 2026.
The United States has tentatively agreed to drop a criminal case accusing Turkiye's state-run Halkbank of participating in a multibillion-dollar scheme to evade sanctions against Iran. The decision was made due to Turkish assistance in securing a ceasefire deal between Israel and Hamas and the release of Israeli captives in Gaza. Prosecutors stated resolving the case would be in the "best interests" of the US government. HalkBank, which denies wrongdoing, will engage a third party to review its sanctions and anti-money laundering compliance as part of the deal. The bank will also refrain from participating in transactions with the Iranian government, Iranian people, or Iranian entities that involve US people or financial institutions during the agreement.
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