On 21 January, Bloomberg reported that Turkey’s Halkbank is facing a $1 million per day fine for its continued failure to respond to US sanctions-evasions charges, federal prosecutors in New York said. The daily fine that would double each week the bank refuses to appear in the case. The bank is accused of involvement in a scheme to help Iran evade economic sanctions and access $20 billion in frozen oil revenue. Since then, the bank has refused to accept service of the indictment or answer the case, leading prosecutors to deem it a fugitive from justice.
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