Jan 11 (Reuters) - Turkey's Halkbank has received no official request to stop handling payments to Iran for oil transactions but is studying U.S. moves to choke off the Islamic Republic's revenue, Turkish daily Vatan reported on Wednesday, citing its general manager.
On Dec. 31, President Barack Obama signed into law a fresh set of sanctions targeting financial institutions that deal with Iran's central bank to stem the flow of oil revenue and persuade Tehran to abandon a suspected nuclear weapons programme. (source)
Halkbank's general manager, Suleyman Aslan, told Vatan the bank was monitoring developments closely after the U.S. moves and noted that the legislation gives banks a warning period of two to six months to comply.
"We haven't received anything so far. In any case the central banks and state banks are given a time limit of two to six months, which means we still have 180 days," Aslan was quoted as saying by Vatan.
"Halkbank will not be involved in activities contradictory to international regulations. We are monitoring the developments. We will do what is necessary if the rules are changed regarding our transactions," he said.
The Halkbank official was not immediately available for comment when contacted by Reuters.
State-controlled Halkbank, Turkey's seventh-largest bank, has emerged over the past 18 months as one of the few banks willing to handle such transactions as Western countries impose sanctions to block Iran's access to the international financial system.
Halkbank handles payments by Tupras, Turkey's sole refiner, a unit of the Koc Holding conglomerate, for Iranian crude, according to industry officials with knowledge of the transactions.
Halkbank has also provided a conduit for Indian refiners to make payments since mid-2011, after the Reserve Bank of India, under U.S. pressure, shut a previous channel.
In December, however, the Halkbank declined to open an account for an additional Indian refiner, BPCL.
Turkey is complying with U.N. sanctions on neighboring Iran, despite opposing the last set of measures imposed in mid-2010, but has argued it is not compelled to adhere to harsher sanctions imposed by the United States and the European Union.
Under the most recent law introduced by Washington, Obama can grant waivers to countries that significantly reduce their dealings with Iran.
A Turkish energy ministry official has said a waiver will be sought for Tupras. Turkey is heavily dependent on energy imports from Iran. (Writing by Ece Toksabay; Editing by Simon Cameron-Moore and Jane Baird)
