Turkey's Halkbank will use all rights to halt U.S. Federal Court ruling

ISTANBUL (Reuters) – Turkey’s majority state-owned Halkbank said on Friday that it will use all its legal rights to challenge a U.S. Federal Court ruling that it must enter a formal plea to charges that it helped Iran evade sanctions.

Halkbank said in a statement it requests the right to defend its position that the U.S. court lacks jurisdiction over the claims made on the bank as Halkbank does not have any branch or physical operation in the United States.

On Thursday, a U.S. judge ruled that Halkbank must enter a formal plea to charges that it helped Iran evade sanctions before it can challenge a U.S. court’s ability to hear the case.

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