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Turkey's Tourism Season Hits a Snag, HalkBank Tries to Get US Case Thrown Out

TURKEY

LOCAL NEWS

  • Russia officially halts flights to Turkey until 1 June, claiming the reason is not due to communications or possible drone sales to Ukraine, but because of the escalating Covid situation.
    • Follows the US & Germany banning flights in what is set to severely hurt Turkey's tourism industry this year
  • State lender, Halkbank, told a U.S. appeals court on Monday that it was immune from U.S. prosecution and that an indictment accusing it of helping Iran evade American sanctions should be thrown out.
    • However, US prosecutor Kamaraju highlighted that act applies only to civil cases, urging the appeals court to reject what he called a "dramatic extension" of sovereign immunity. Ruling date has yet to be confirmed
  • HealthMin says Turkey is approaching a new peak in infections. Notes 85% of new infections are due to the UK variant, but sees no dramatic increase in bed occupancy rate (59%), ICU occupancy (67.4%), but notes the data is cautionary
  • Yesterday, Canadian govt cancelled 30 permits for export of military goods to Turkey after an investigation revealed Canadian components were diverted for use in the Nagorno Karabakh war between Azerbaijan and Armenia
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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