Report: Turkish banks could face big US fines over Iran

By REUTERS
October 21, 2017 16:23
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Breaking news. (photo credit: JPOST STAFF)

Six Turkish banks face billions of dollars of fines from US authorities over alleged violations of sanctions with Iran, the Haberturk newspaper reported on Saturday, citing senior banking sources.

The report could not be verified by Reuters. Two senior Turkish economy officials told Reuters that Turkey has not received any notice from the United States about such penalties, adding that US regulators would normally inform the finance ministry's financial crimes investigation board.

Turkish authorities are expected to issue a statement to issue the address the issue soon, the senior economy officials said.


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