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A planned court hearing in the United States concerning Türkiye’s state-owned lender Halkbank was canceled on Tuesday, delaying progress in a high-profile case that has remained a key point of contention in U.S.-Türkiye relations in recent years.
The status conference, which had been scheduled before a U.S. district judge in New York, was expected to determine the next procedural steps in the trial. According to the court docket, the session was adjourned without explanation and no new date was immediately set, Reuters reported.
Halkbank was indicted by U.S. prosecutors in 2019 for allegedly participating in a scheme to evade economic sanctions against Iran.
The bank has previously sought to have the charges dismissed on the grounds of sovereign immunity, but U.S. courts rejected those appeals. Earlier reports also indicated that Türkiye had explored the possibility of a settlement worth up to $100 million.
The case was among the key topics discussed during President Recep Tayyip Erdogan’s meeting with then-U.S. President Donald Trump in late September. Speaking to members of the press in October 2025, Erdogan stated that Trump had affirmed his position on resolving the matter, adding, "The problem is solved for us."
Following the reports, shares of Halkbank listed on Borsa Istanbul, Türkiye’s stock exchange, fell by as much as 7% before trimming their losses over the next few hours.
Shares of the lender were among the best-performing banking stocks in 2025, rising more than 130% year-over-year despite a sluggish run in the broader sector, amid growing investor hopes of a favorable resolution in its U.S. court case.
Founded in 1933, Halkbank is Türkiye’s fourth-largest bank by total assets, which reached €82.64 billion ($99.12 billion) as of September 2025, according to official figures. The Türkiye Wealth Fund, the country’s sovereign wealth fund, holds a 91.5% majority stake in the lender.
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