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run afoul of the Foreign Sovereign Immunities Act.
(Halkbank image via Courthouse News)
MANHATTAN (CN) The Second Circuit appeared unlikely Monday to rule that Turkey’s state-run Halkbank is immune from claims over the same crimes that brought indictments against its executives.
“Since the bank is synonymous with government of Turkey, in your view, I assume the officers of the bank would be, in effect, state officials; Are they state officials?,” U.S. Circuit Judge Jose Cabranes asked an attorney for the bank this afternoon as the Manhattan-based court held remote oral arguments.
“Several of these managers or executives of the bank been indicted,” the Clinton-appointed judge noted. “Has anybody asserted a claim of diplomatic immunity or any sort of immunity that’s ascribable to the government?”
Last Updated On: Apr 13 2021 01:35 Gmt+3
Turkey’s state-run Halkbank, facing charges of helping Iran evade U.S. sanctions, argued in a federal court in New York that it was immune from prosecution, Reuters reported on Tuesday.
Halkbank’s lawyer Simon Latcovich said that the bank was “synonymous” with Turkey and therefore fell under the protections offered in the federal Foreign Sovereign Immunities act, Reuters said.
While Latkovich argued that sovereigns were “immune even in criminal cases”, U.S. prosecutor Sidhardha Kamaraju said that the law only applied to civil cases, according to Reuters.
Halkbank is accused of bank fraud, money laundering and conspiracy over its involvement in a plot to trade gold for Iranian oil and natural gas, helping Tehran evade U.S. sanctions imposed over its nuclear programme. It has pleaded not guilty to the charges.
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Turkey s Halkbank urges end of U S prosecution alleging Iran sanctions violations reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.