The US Treasury Department has sanctioned a Turkish bank that allegedly conducted transactions for Iran’s Islamic Revolutionary Guard Corps' Quds Force.
In a statement on Friday, the department said it had targeted Golden Global Yatirim Bankasi Anonim Sirketi, also known as Golden Global Bank, along with two Turkey-based subsidiaries.
“Golden Global Bank has knowingly offered to provide correspondent banking services to Iranian financial institutions, enabling transactions through accounts controlled by the IRGC-QF and its proxies,” the Treasury said, adding that the bank had facilitated tens of millions of dollars’ worth of transactions for the IRGC.
The action is the latest in the Trump administration’s campaign to economically pressure Iran six months into the war, which has pushed energy prices higher worldwide.
US Treasury Secretary Scott Bessent last month unveiled Operation Economic Outcast, which aims to further squeeze Iran’s economy.
“Financial institutions continue to find out the hard way that we are serious,” Mr Bessent said.
“While we hope no more banks will need to be sanctioned, that ultimately depends on how quickly the international community comes to its senses and ceases support of the murderous Iranian regime.”
