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U.S. sanctions Turkish bank tied to Iran oil revenue channels
The Treasury designated Golden Global Yatirim Bankasi and two subsidiaries on Sept. 4, blocking them from the US financial system while allowing only a wind down under a general license.
The United States imposed sanctions on a Turkish investment bank and two subsidiaries, accusing them of helping Iran move oil revenue and gain access to the international financial system as Washington steps up efforts to pressure Tehran, OilPrice reports.
According to the US Treasury Department, the Sept. 4 designations targeted Istanbul-based Golden Global Yatirim Bankasi Anonim Sirketi, along with Golden Global Portfoy Yonetimi and Golden Global Varlik Kiralama, which were added to the Treasury's Specially Designated Nationals list.
The filing effectively cuts the entities off from the US financial system, while the Treasury also issued a general license to permit transactions involving the companies to be wound down.
The action is part of Washington's intensified Operation Economic Outcast, with Treasury Secretary Scott Bessent saying additional steps would depend on whether international institutions stop supporting what he called the Iranian regime, and the Treasury said Golden Global Bank facilitated tens of millions of dollars in transactions for the Islamic Revolutionary Guard Corps, according to OilPrice.