US Supreme Court makes new decision about Turkey’s Halkbank case

The US Supreme Court has decided to consider the appeal of HALKBANK against the accusation that it violated the Iranian sanctions. After the decision, the bank’s shares sky-rocketed.

There has been a new development in Halkbank’s ongoing lawsuit in the United States.

The US Supreme Court agreed to process Halkbank’s appeal against the case in which it was being tried for allegedly violating sanctions imposed on Iran.

Halkbank had filed an appeal with the court, arguing that the federal judiciary could not judge other nations and the companies they owned, under the American Foreign States Immunity Act.

AFTER THE DECISION, THE SHARES WENT THROUGH THE ROOF

After the development, Halkbank shares rose by 10 percent on the stock market.

PREVIOUSLY REJECTED

Said request had previously been rejected by the US Court of Appeals.