Economy of Iran

Turkey's Halkbank seeks Iran sanctions case dismissal

Turkey's Halkbank on April 12 urged a U.S. appeals court to dismiss a case over alleged violations of sanctions on Iran.

Arguing before the U.S. Court of Appeals for the Second Circuit, Halkbank lawyer Simon Latcovich said US prosecutors have no jurisdiction over the bank, as it is immune under the U.S.' Foreign Sovereign Immunities Act.

US sanctions counter-productive and would harm relations, Turkish official says

US sanctions on Turkey over its purchase of Russian S-400 missile defense systems would backfire and hurt ties between the two NATO members, a senior Turkish official said on Thursday.

"Sanctions would not achieve a result but be counter-productive. They would harm relations," the official said after four sources said Washington was poised to impose sanctions.