On 6 October, a post from the Transnational Litigation Blog reported on the case of Halkbank of Turkey and whether the US Government can bring criminal prosecutions against foreign companies owned by foreign sovereigns, in this case Turkey. Halkbank, in which Turkey’s sovereign wealth fund has a 75% interest, is facing charges involving sanctions evasion, bank fraud, and money laundering. It argues that a reversal and the complete immunity of foreign state-owned businesses from US laws would be an earthquake.
https://tlblog.org/the-supreme-court-takes-up-sovereign-immunity-from-criminal-prosecutions
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