The U.S. government said on Tuesday that Turkey's state-owned Halkbank shou...
) should be subjected to escalating fines totaling millions of dollars until it responds in court to criminal charges it helped Iran evade U.S. economic sanctions.
Such a penalty “is an appropriate and necessary sanction to apply a sufficient coercive pressure to cause the defendant to cease its contempt and appear in this matter,” prosecutors said.The proposed fine could total $7 million after the first week of non-compliance and $21 million after two weeks, and nearly $1.8 billion by the end of eight weeks.
Last month, U.S. District Judge Richard Berman, who oversees the case, rejected Halkbank’s request to put the case on hold.
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