Featured Turkey

EU agrees sanctions on Turkey over Cyprus drilling, to add names later

European Union foreign ministers agreed on Monday economic sanctions over Turkey’s drilling off the coast of Cyprus, setting up the legal framework for travel bans and asset freezes but leaving names until a later date. The decision, reflecting a broader deterioration in EU ties with Turkey, aims to punish Ankara… Read More

Halkbank Wants U.S. to Toss Case It Won’t Recognize

A lawyer for a Turkish bank accused by the U.S. of aiding an Iranian scheme to evade economic sanctions appeared in a New York courtroom for the first time on Tuesday and said the bank continued to dispute the U.S.’s legal authority over it and planned to seek dismissal of… Read More

Turkey Sanctions Pass U.S. House as Lawmakers Press Trump

The U.S. House overwhelmingly passed a bipartisan bill Tuesday threatening to sanction Turkey, warning that a deal struck with the Trump administration won’t necessarily save the NATO ally from economic punishment for its military operation in northern Syria. The bill to sanction Turkish leaders, Halkbank and other financial institutions,… Read More
24th October 2019
Donald Trump has announced that the US will lift sanctions on Turkey, taking credit for a ceasefire deal that should end Ankara’s attack on Kurdish-led forces – at the price of ending the Kurds’ dream of local autonomy. The US president, who has come under withering… Read More
23rd October 2019
A U.S. prosecutor on Tuesday called Turkey’s Halkbank (HALKB.IS) a “fugitive” after it failed to make an initial court appearance in a criminal case accusing it of conspiring to violate U.S. sanctions against Iran. Assistant U.S. Attorney Michael Lockard said at a hearing in federal court in Manhattan… Read More
23rd October 2019
The European Bank for Reconstruction and Development is against Turkey’s appointment of a convicted banker as head of the stock exchange, saying it now has the right to exit its 10% stake in Borsa Istanbul. “We were not consulted on the appointment,” Jonathan Charles, managing director for communications for… Read More
18th October 2019
Republican and Democratic lawmakers vowed to move ahead with sanctions on Turkey despite the announcement by Vice President Mike Pence that Turkish President Recep Tayyip Erdogan agreed to temporarily halt hostilities in northern Syria. South Carolina Republican Lindsey Graham and Maryland Democrat Chris Van Hollen said they welcomed the agreement… Read More
17th October 2019
After repeated appeals to President Trump by Turkey’s president to avoid charges against a state-owned Turkish bank, Attorney General William P. Barr oversaw an effort earlier this year to negotiate a settlement with the bank, two people with knowledge of the matter said. The settlement push abruptly ended on Tuesday… Read More
17th October 2019
U.S. prosecutors filed criminal charges against Turkey’s Halkbank, accusing it of fraud, money laundering and violating U.S. sanctions against Iran, in a case that Turkish President Recep Erdogan had pressed both President Donald Trump and President Barack Obama to dismiss. Read More
16th October 2019
The US Congress will press ahead with a broad package of sanctions on Turkey, including cutting military support, after measures announced by the Trump administration were dismissed as ineffective, Senate officials have confirmed. The Republican senator Lindsey Graham and Democrat Chris van Hollen are expected to launch a… Read More
15th October 2019
US President Donald Trump on Monday imposed sanctions on Turkey over Ankara’s military operation in northeast Syria, and called for an immediate ceasefire. Turkey launched the cross-border assault on Kurdish fighters last Wednesday after Trump withdrew some US troops from the region, drawing sharp criticism from fellow… Read More
15th October 2019
Turkey has disrupted an illegal money transfer system used by the terrorist group Daesh, according to sources at Turkey’s financial crimes watchdog. Security forces targeted suspects accused of directing Daesh international money transfers using the “Hawala” system, said the sources from the Financial Crimes Investigation Board (MASAK) who asked not… Read More
14th October 2019
U.S. prosecutors were bearing down last year on a state-owned Turkish bank implicated in a sanctions case that had long been an irritant for Turkish President Recep Tayyip Erdogan. Erdogan asked both the Obama and Trump administrations to drop the matter. Rudy Giuliani got involved, mounting an… Read More