Jan 04 2018

Turkey, Iran to deepen cooperation in banking – report

Turkey and Iran agreed to deepen their cooperation in the banking sector, Cumhuriyet newspaper reported citing statements by President Recep Tayyip Erdoğan and his Iranian counterpart Hassan Rouhani.

The two countries will also seek to use their respective currencies as they seek to develop economic relations, rather then relying on U.S. dollars and other currencies, according to the statements, Cumhuriyet said.

The agreement comes as a jury in New York found that a senior employee of Turkish state-run Halkbank was complicit in a scheme to evade U.S. sanctions on Iran. The decision raises the possibility of a multi-billion-dollar fine against Halkbank. Turkey's government has slammed the verdict.