Halkbank to get $10 billion fine – opposition party

Halkbank, a Turkish state-run bank, is expected to be fined $10 billion by U.S. authorities for its role in breaking sanctions on Iran, said Erdal Aksünger, deputy chief of the main opposition Republican People’s Party (CHP).

Should the allegations against Halkbank, currently the subject of a criminal case in New York against its former deputy CEO Mehmet Hakan Atilla, be turned into a legal trial, then the case could go to the United Nations and Turkey could then faces sanctions, Aksünger said, according to Birgün newspaper.

Atilla, currently incarcerated in New York, will get five years or more in jail for his involvement in attempts to evade the sanctions, he said. But Atilla was just a pawn in a game run by high level officials who included former Economy Minister Zafer Cağlayan and an ex-CEO of Halkbank, he added.