US Treasury accuses Golden Global Yatirim Bankasi Anonim Sirketi of enabling Iran’s efforts to move oil revenues from China to Turkey and offering services to Iranian finance entities
WASHINGTON (AP) — The US Treasury announced Friday it has imposed sanctions on a Turkish financial institution as part of its latest effort to sever “critical financial lifelines” for the Iranian government.
The actions against Golden Global Yatirim Bankasi Anonim Sirketi come nearly a week after Treasury Secretary Scott Bessent announced “Operation Economic Outcast, ” Washington’s new effort to get Tehran to capitulate to its demands after more than six months of war.
The department accused the bank and its entities of being established to enable Iran’s efforts to transfer oil revenues from China to Turkey, where they could then be converted to cash and gold. It also said the institution “knowingly offered” banking services to Iranian financial entities, including those already sanctioned by the US government in 2022 for funneling Tehran’s oil sales.
In a press release, Bessent said that financial institutions with ties to Iran will “continue to find out the hard way that we are serious about Operation Economic Outcast.”
