How will Turkey trade with Iran with sanctions back and Halkbank on target?
Source:Hurriyet Daily News Date:11Jul2018
Ms Barcin Yinans answers a crucial quesiton clıuding the near horizon of the Turkish economy. The developments in US-Iran-Turkey triangle. Note her words on Halkbank case.
Experts had speculated the announcement of the Halkbank fine was postponed to after the June 24 elections in Turkey. That means the penalty the U.S. Treasury and Department of Justice will assess on Halkbank will become public in a matter of weeks.
The immediate effect on the economy in the short term will depend on the size of the penalty. It will certainly pose a challenge for the economy. The consequences of trade with Iran will be equally crucial since Turkish companies will have a hard time to realize their financial transactions with their Iranian counterparts.