The US Department of Justice has formally moved to dismiss the case against Turkish state-owned bank Halkbank. The bank was accused of facilitating the illicit transfer of approximately $20 billion in restricted funds on behalf of Iran. Prosecutors alleged Halkbank helped Iran circumvent US sanctions by converting oil revenue into gold and cash. These transactions were reportedly disguised through fraudulent food shipments. The decision to drop the case follows years of strained relations between the US and Turkey, and comes amid ongoing diplomatic efforts. Legal experts suggest the move may be a concession to Turkey ahead of potential negotiations or to avoid further damaging bilateral ties. The dismissal is expected to have significant implications for US-Turkey relations and sanctions enforcement.