Halbank Appeals to U.S. Supreme Court in Iran Sanctions Case

Turkey's state-owned Halbank has filed an appeal with the U.S. Supreme Court requesting the dismissal of criminal charges accusing the bank of assisting Iran in evading economic sanctions. The appeal follows a federal appeals court ruling in October that rejected Halbank's arguments.

Prosecutors allege that Halbank facilitated the release of $20 billion of restricted Iranian funds and laundered at least $1 billion through the U.S. financial system. The main issue in the appeal revolves around whether Halbank is protected by sovereign immunity.

Halbank argues that it is immune under common law, a set of judge-made legal rules that apply in certain circumstances. The bank's appeal faces challenges and may result in a settlement with the Trump administration.

The U.S. Supreme Court has not yet indicated whether it will hear the appeal. The case is Turkey v. United States, with assistance from Bob Van Voris. This article was generated from an automated news agency feed without modifications to the text.