Bangladesh, March 11 -- A years-long legal and geopolitical dispute between the United States and Türkiye has reached a significant turning point after the US Justice Department and Turkeys state-owned lender Halkbank agreed to settle charges related to the alleged evasion of sanctions on Iran. The settlement closes one of the most politically sensitive financial cases involving a NATO ally and resolves a legal battle that had strained relations between United States and Türkiye for nearly a decade.

Under the terms of the agreement, Halkbank will not admit any criminal wrongdoing and will not face judicial or administrative fines. Instead, the bank must appoint an independent compliance expert to review its internal anti-money ...