US Judge Drops Criminal Charges Against Turkey's Halkbank

U.S. District Judge Richard Berman finalized the dismissal following a settlement negotiated between the Justice Department and the Ankara-based bank. The agreement, which requires no admission of guilt or financial penalty from Halkbank, resolves a contentious chapter in bilateral relations that once saw Turkish President Tayyip Erdogan label the prosecution an unlawful and aggressive act.

Under the terms of the deal, Halkbank must adhere to strict oversight, including the appointment of a monitor to audit its anti-money laundering and sanctions compliance. The bank is explicitly barred from facilitating future transactions that benefit Iran. Prosecutors had previously alleged that the lender moved $20 billion in restricted funds by masking oil revenues as legitimate food shipments. The resolution follows a significant warming of diplomatic ties since Donald Trump’s return to the presidency, with the bank's shares climbing on the Istanbul exchange following the announcement.