DOJ Reaches Deal to End Halkbank Case

Turkish state-owned bank accused of Iran sanctions violations

Published on Mar. 9, 2026

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The U.S. Department of Justice announced that a deal has been reached to resolve a long-running criminal case against Turkish state-owned lender Turkiye Halk Bankasi AS (Halkbank) over alleged violations of Iran sanctions. The deal involves a deferred prosecution agreement filed in Manhattan federal court.

Why it matters

The Halkbank case has been a source of tension between the U.S. and Turkey for years, with Turkey claiming the prosecution was politically motivated. The resolution of the case could help improve relations between the two countries.

The details

Under the deferred prosecution agreement, the criminal case against Halkbank will be paused with the intention of dismissing it later if certain conditions are met. Deferred prosecution agreements typically allow prosecutors to pause a criminal case while the defendant complies with certain requirements.

  • The deal was announced on March 9, 2026.

The players

U.S. Department of Justice

The federal agency responsible for enforcing U.S. laws and prosecuting criminal cases.

Turkiye Halk Bankasi AS (Halkbank)

A Turkish state-owned lender that was accused of violating U.S. sanctions on Iran.

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What’s next

The details of the deferred prosecution agreement and the conditions Halkbank must meet to have the case dismissed will be closely watched.

The takeaway

The resolution of the long-running Halkbank case could help improve strained relations between the U.S. and Turkey, though the full implications remain to be seen.