Vakıfbank denies involvement in Iran sanctions evasion amid US lawsuit

Vakıfbank denies involvement in Iran sanctions evasion amid US lawsuit

ISTANBUL - Reuters
Vakıfbank denies involvement in Iran sanctions evasion amid US lawsuit

Turkey’s Vakıfbank said on Dec. 1 that it had never had any interest or involvement whatsoever in any of the processes mentioned in the U.S. trial of a Turkish bank executive accused of helping to launder money for Iran.

“VakıfBank has always acted in compliance with laws and related legislations and shown utmost care and diligence to act in accordance with the laws and the related legislations,” the bank said in a statement to the Istanbul stock exchange.

Turkish-Iranian businessman Reza Zarrab testified in the United States on Nov. 30 that Turkey authorized Vakıfbank and another lender to move funds for Iran.

Shares of Vakıfbank were down 1.6 percent in early trade in Istanbul.

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