Istanbul Stock Exchange (Borsa Istanbul)

Main article: Economy of Turkey

2021: Exchange chief Mehmet Hakan Atilla resigns over US prosecution risks

In March 2021, Mehmet Hakan Atilla, the former deputy general director of HalkBank, who was convicted in the United States in 2018 and served three years there for helping Iran evade US sanctions (2011-2013), resigned as head of the Turkish Istanbul Stock Exchange Borsa İstanbul. Atilla led the exchange after returning from the United States.

Atilla resigned "of his own accord," according to a statement from the exchange, however some experts attribute it to Halkbank's upcoming trial in New York, which is expected to begin in May. The witness in court will be Reza Zarrab, who is the creator of the scheme. He is expected to reveal the names of people in the Turkish leadership who allegedly could have contributed to this scheme. The bank could face a $10bn to $20bn fine, it has been claimed. Ankara denies the bank's involvement in the laundering of Iranian money.

During the reign of US President Trump, the first trial of HalkBank took place, after which Atilla was imprisoned. He did not admit the guilt imputed to him. Atilla was taken into custody in the United States when he was on another business trip. After that, they did not return to business, but it was always clear that sooner or later Washington would use this trump card. He is on a par with the sanctions for Turkey's acquisition of the Russian air defense system S-400 is one of the most significant.