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OfficialDiplomacy & politicsWashington, D.C., United States

US sanctions Turkish lender Golden Global Bank over IRGC-Qods Force transactions

Mountain Time
Local time
11:45 AM in New York
Where
Washington, D.C., United States

The Treasury sanctioned Turkey-based Golden Global Yatirim Bankasi and two subsidiaries, accusing the bank of facilitating 'tens of millions of dollars' worth of transactions' for the IRGC-Qods Force and of being set up to move Iranian oil revenue from China to Turkey for conversion into cash and gold. The bank denied the allegations and said it would take legal action.

Why it matters

Bessent said 'we will probably sanction another bank next week,' signaling that Operation Economic Outcast is now working through third-country lenders one at a time.

Sources (2)

Confidence: Stated by a named government, military, or institution. Not independently confirmed. About confidence labels