The Halkbank case in the US has been dropped
After nearly a decade of legal friction, Halkbank and the US Department of Justice have reached a Deferred Prosecution Agreement (DPA), effectively bringing the long-standing case regarding Iran sanctions to a close. Perhaps the most significant aspect is that Halkbank will not pay any monetary penalties and has made no admission of criminal wrongdoing. Once […]
U.S. Sanctions Two Turkey-Based Firms Over Hezbollah Links
On February 10, 2026, the U.S. Treasury Department (OFAC) added two Istanbul-based companies to its sanctions list. These firms are accused of facilitating a complex “commodities-for-cash” scheme to generate revenue for Hezbollah. The Turkish Entities Involved: Platinum Group International Dış Ticaret Ltd. Şti.: Registered in Istanbul in 2024, this trading firm is accused of helping […]
U.S. sanctions 29 companies in China, Turkey, and UAE over Iran military support
The U.S. government announced a major expansion of its sanctions, adding 29 entries (26 entities and three addresses) to the Commerce Department’s Bureau of Industry and Security (BIS)’s restricted entity list. The sanctions target companies in China (15 firms), Turkey, and the UAE, which the U.S. accuses of providing illicit support to Iran’s military and […]
Japan hits Russia with a new wave of sanctions: Two Turkish companies on the list
In response to the ongoing war in Ukraine, Japan has expanded its sanctions against Moscow. The government in Tokyo has imposed an export ban on a total of nine organizations, including two companies from Turkey. The sanctions list also includes six companies from China and one from the United Arab Emirates. In a statement from […]