BREAKING NEWS

BREAKING NEWS

Turkey's Denizbank says did not collaborate with gold trader Zarrab

Now Reading:

Turkey's Denizbank says did not collaborate with gold trader Zarrab

Turkey's Denizbank says did not collaborate with gold trader Zarrab
Text size Aa Aa
ISTANBUL (Reuters) - Turkey's Denizbank <DENIZ.IS> said on Thursday it did not have any dealings with the shipping group owned by gold trader Reza Zarrab, who is testifying in a U.S. federal court after pleading guilty to conspiring to evade U.S. sanctions against Iran. Zarrab on Wednesday told the court that he helped Iran use funds deposited in Turkey's state-owned Halkbank <HALKB.IS> to buy gold, which was smuggled to Dubai and sold for cash. Halkbank has said all of its transactions complied with national and international regulations. According to local media reports, Zarrab also testified that he used Denizbank for some transactions. Denizbank disputed the reported allegations. "Our transactions only revolved around buying and selling gold domestically, and there were no foreign transactions," it said in a statement. "Our bank... has had no dealings with the Royal Shipping group owned by Reza Zarrab." The case has fuelled tensions between the United States and Turkey, which are NATO allies. Turkish President Tayyip Erdogan's government has said the case was fabricated for political reasons. Turkey's banking regulator last month denied a local media report that six Turkish lenders could face substantial fines from the United States over alleged violations of Iran sanctions. (Reporting by Ali Kucukgocmen; Editing by David Dolan)
euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.