US Issues Sanctions on Turkish Bank that It Calls a ‘Critical Financial Lifeline’ for Iran
The bank and two subsidiaries were accused of moving tens of millions of dollars for Iran’s Quds Force and helping convert oil revenue into cash and gold.
- On Friday, the Treasury sanctioned Golden Global Yatirim Bankasi Anonim Sirketi to sever "critical financial lifelines" for the Iranian government, marking Washington's latest effort to isolate Tehran after more than six months of war.
- Treasury Secretary Scott Bessent announced "Operation Economic Outcast" nearly a week ago to force Tehran to capitulate, a strategy following recent military strikes and rising concerns over potential regional war involving Iran.
- Last week, Washington targeted an Egyptian bank's operations in the United Arab Emirates, while Bessent discussed these strategies during the G20 Finance Ministerial in Asheville, Sept. 1, seeking to isolate Iran from global partners.
- Promises of an "Economic D-Day" for "Operation Economic Outcast" have turned into warnings and negotiations with partners to restrict the financial reach of the Iranian government globally.
- The Trump administration resumed military strikes in recent days, prompting Iranian retaliation that has renewed regional war fears; these actions coincide with ongoing economic pressure campaigns designed to force Tehran to accept new demands.
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184 Articles
Türkiye's Golden Global Bank has dismissed the US accusations of financial ties to Iran as baseless and emphasized its legal rights.
By Jennifer Hansler, CNN The U.S. Secretary of State, Marco Rubio, instructed diplomats around the world this week to tell the countries where they are destined that they should “systematically identify and cut” their ties to Iran, and that those with Iranian bank branches should close them immediately.
US Targets Türkiye-based Bank in Latest Sanctions on Iran Financial Network
Get latest articles and stories on World at LatestLY. The United States, in its latest efforts of economic sanctions under Operation Economic Outcast, on Friday (local time) imposed fresh sanctions on a Türkiye-based financial institution and two of its subsidiaries, accusing them of facilitating transactions linked to Iran's Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and providing the Iranian regime with access to international corr…
<p>US slapped sanctions on Turkish bank over millions of transactions in favor of Iran Golden Global Bank is suspected of millions of transfers in favor of Iran. US Freezes Assets and Threatens New Secondary Sanctions</p>.
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