Shares of Turkey's Halkbank plunge after U.S. charges [Reuters]
AKBANK T/A/S S/ADR (AKBTY)
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Source: Reuters
Shares of Turkey's Halkbank plunge after U.S. charges - Reuters 4 Min Read ISTANBUL, Oct 16 (Reuters) - Shares of Turkey’s Halkbank plunged as much 7% on Wednesday, despite a ban on short selling, after U.S. prosecutors charged the state-owned lender with taking part in a multibillion-dollar scheme to evade U.S. sanctions on Iran. The announcement from U.S. prosecutors came a day after Washington imposed sanctions on Turkish officials, hiked tariffs and halted trade talks in an effort to persuade Ankara to stop its incursion against the Kurdish YPG militia in northern Syria. The U.S. indictment published Tuesday alleges Turkey’s second-largest state bank conducted fraud, money laundering, and other sanctions offences. Halkbank had not yet commented on Wednesday. Before Turkish markets opened, authorities banned short selling on seven large Turkish bank stocks including Halkbank. Selling shares in the banks only to buy them later in the session was also banned, authorities said. But Ha
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