As usual Donald Trump is knee-deep in conflicts of interest, to the point not only do they violate the Emolument clause of the U.S. Constitution but they violated sanctions of the United States and the U.N. Donald Trump’s Towers of Istanbul is the location of not only Turkey’s state controlled Bank, Halkbank considered in violation of U.S. and U.N. Sanctions with Iran.
Halkbank was a link in the chain to finance Iranian petroleum interests in the wake of U.S.-led nuclear sanctions. In March 2012 Iran was stopped from using the international money transfer system SWIFT. https://en.wikipedia.org/wiki/Halk_Bankas%C4%B1
As a side note: Just in recent weeks Michael Flynn was removed as first national security advisor to President Donald Trump. Only last week he disclosed he was a foreign agent of Turkey.
Emolument defined means profit, salary, or fees from office or employment; compensation for services. Under Article 1, Section 9, Clause 8 it says: “No title of nobility shall be granted by the United States: and no person holding any office of profit or trust under them, shall, without the consent of the Congress, accept of any present, emolument, office, or title, of any kind whatever, from any king, prince, or foreign state.”
Reuters: Jan 2, 2012 http://www.reuters.com/article/turkey-iran-halkbank-idUSL6E8C420020120104
Halkbank was bought into the spotlight when President Barack Obama imposed financial institutions dealing with Iran
By Simon Cameron-Moore
ISTANBUL, Jan 4 Turkish lender Halkbank , little known outside Turkey, has gained a reputation in the oil market over the past 18 months for handling transactions that other banks fear to touch – trade deals with Iran.
Now a new law signed by President Barack Obama last Saturday, which imposes U.S. sanctions on financial institutions dealing with Iran’s central bank, has put the bank squarely in the spotlight.
Halkbank’s stance toward Iran largely has reflected the attitude of the Turkish government, which owns 75 percent of the bank, towards international sanctions against Tehran over its nuclear programme.
U.S. Treasury officials have visited Turkey several times since to advise banks that doing business with proscribed Iranian entities runs the risk of being frozen out of the U.S. financial system.
That appeared to hold little threat for Halkbank given its profile as a state-controlled bank with few direct links to the United States. But the new U.S. law could turn up the pressure.
The sanctions, according to a senior U.S. official, would target private and government-controlled banks — including central banks — and would take hold after a warning period of two to six months, depending on the transaction.
Obama could grant waivers to institutions in countries that significantly reduce dealings with Iran.