Halkbank working closely with U.S. Treasury, minister says

Turkey’s Halkbank, whose officials were allegedly complicit in breaking sanctions on Iran, is working closely with the U.S. Treasury as it investigates the matter.

While state-run Halkbank is cooperating, it is saying that it did nothing wrong, Deputy Prime Minister Mehmet Şimşek told BloombergHT in a televised interview in Davos, Switzerland on Wednesday, according to Reuters.

Earlier this month, a U.S. jury found Halkbank deputy CEO Mehmet Hakan Atilla guilty of fraud and complicit in a scheme to circumvent the sanctions. Atilla denied the charges.

The Turkish government slammed the decision and is saying that it may refuse to pay any fine requested by the U.S. Treasury should it consider it to be political in nature.