Halkbank case: a key witness in the US investigation faces nine years in prison after years of cooperation

One of the key witnesses in the US investigation targeting the Turkish bank Halkbank is expected to be sentenced in July, nearly nine years after pleading guilty. This decision marks a new stage in a case that has long fueled tensions between Washington and Ankara over sanctions imposed on Iran.

Reza Zarrab, the businessman at the heart of the case, is accused of participating in a vast scheme that allowed Iran to circumvent US economic sanctions. After his arrest in the United States, he chose to cooperate with the authorities and plead guilty, becoming a key witness in the prosecution of several individuals and institutions connected to the case.

According to court documents released Monday, his sentencing is now scheduled for July 14 in a federal court in Manhattan. U.S. prosecutors are expected to seek a sentence of up to nine years in prison.

In the American judicial system, it is common for cooperating witnesses to have their sentencing postponed until the conclusion of proceedings in which their testimony may be required. This delay explains why nearly a decade has passed since Zarrab's guilty plea.

The case is closely linked to the legal proceedings against Halkbank, a major Turkish state-owned bank accused by US authorities of facilitating transactions that allowed Iran to evade international sanctions. The bank has always denied these accusations.

Federal Judge Richard Berman set the sentencing date while simultaneously considering a request from prosecutors to drop charges against Halkbank following a settlement reached with the bank. Details of the settlement were not disclosed in court documents cited by Reuters.

This case is being closely followed in both the United States and Turkey due to its diplomatic and financial implications. Reza Zarrab's conviction could thus mark one of the final chapters of a legal case that has occupied American courts for many years.