Six Turkish banks will face huge US fines due to violating sanctions against Iran, the Haberturk newspaper has reported.
Turkish officials told Reuters that they had received no notifications regarding the fine, and told the public not to pay attention to “rumors”.
The BDDK banking regulator said, “It has been brought to the public’s attention that stories, that are rumors in nature, about our banks are not based on documents or facts, and should not be heeded.”
Haberturk did not name any banks, but claimed that one bank will face $5 billion in fines, with others facing lower penalties.
The US has fined several banks in different countries over recent years due to violating sanctions against Iran, including the Bank of Deutschland in 2015.
The news follows Donald Trump’s refusal to approve Iranian compliance with the international nuclear deal as he said it was not strict enough, which means more sanctions against Iran are possible.
The report comes during a diplomatic crisis between the US and Turkey after the two Nato allies stopped issuing visas to each other.
Last month, the US charged a former Turkish economy minister and a state bank owner for conspiring against Iranian sanctions.
And last year the US charged Reza Zarrab, a wealthy Turkish-Iranian gold trader who was arrested in the US due to evading the sanctions.
The Turkish president, Recep Tayyip Erdoğan, said that the US authorities had “ulterior motives”.