A federal judge in Manhattan on Thursday rejected a request by Turkey's state-owned Halkbank to put on hold a federal prosecution accusing it of helping Iran evade U.S. economic sanctions.
U.S. District Judge Richard Berman said Halkbank would not face irreparable harm if the case proceeded, and that limiting its economic and reputational damage "may best be assured by Halkbank's speedy response to the criminal charges."
Berman also said the public had a strong interest in a "prompt adjudication" of Halkbank's alleged role in a conspiracy to undermine the sanctions, including through the alleged transfer of $20 billion of otherwise restricted Iranian funds.