US Issues Sanctions on Turkish Bank that It Calls a ‘Critical Financial Lifeline’ for Iran
Treasury said the bank moved tens of millions of dollars for the Revolutionary Guard’s Quds Force and enabled Iran-linked international transfers.
- 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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The Latest: US tightens economic squeeze on Iran after a week of renewed strikes
The U.S. Treasury has imposed sanctions on the Turkish bank Golden Global Yatirim Bankasi Anonim Sirketi. This move is part of the Trump administration's effort to cut financial ties with Iran. Last week, the administration launched "Operation Economic Outcast" to…
US Sanctions Turkish Bank for $450M Iranian Oil Evasion Scheme
The US has sanctioned Turkey’s Ziraat Bankasi Dubai branch for facilitating over $450 million in Iranian oil revenue via Chinese front companies, gold bars, and cash couriers. The elaborate evasion network highlights persistent gaps in sanctions enforcement despite years of US pressure.
U.S. sanctions Turkish bank, accusing it of helping Iran transfer oil revenue from China to Turkey by converting it to cash and gold
The actions against Golden Global Yatirim Bankasi Anonim Sirketi come after Treasury Secretary Scott Bessent last week launched “Operation Economic Outcast."
The United States Treasury Department has imposed sanctions on a bank in Turkey, which it has described as a vital financial conduit for Iran. According to the OFAC website, the Istanbul-based bank, Golden Global Bank, has been sanctioned, which, according to American information, has transferred large sums of money paid by China for Iranian oil, channeling the proceeds to the Islamic Revolutionary Guard Corps (IRGC).
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