The United States Treasury Department has placed sanctions on Golden Global Yatirim Bankasi Anonim Sirketi, known as Golden Global Bank, and its subsidiaries, citing alleged connections to Iran. The move is part of Washington\u2019s ongoing efforts to economically isolate the Iranian government.<\/p>\n
According to the Treasury, the bank facilitated \u201ctens of millions of dollars\u2019 worth of transactions\u201d for the Islamic Revolutionary Guard Corps-Qods Force and provided Iranian officials with banking channels to move funds internationally. Washington further alleged that the institution was set up to help Iran\u2019s shadow banking network, referred to as the rahbar network, transfer oil revenue from China to Turkey via gold and cash.<\/p>\n
In response, Golden Global Bank asserted on Friday that it strictly adhered to all local and international banking compliance standards. The bank stated there are no transactions that substantiate the US claims and announced it would pursue all legal avenues to challenge the sanctions.<\/p>\n
\u201cWe will exercise all our rights of objection and legal recourse in the most effective manner and will take the necessary actions at the earliest against these allegations and the decision,\u201d the bank said in a news release. It also noted that individuals and entities listed in the OFAC decision are not and have never been customers.<\/p>\n
Treasury Secretary Scott Bessent emphasized the seriousness of the administration\u2019s \u201cOperation Economic Outcast,\u201d stating that financial institutions are learning the consequences of facilitating such activities. The sanctions place the bank and two subsidiaries on the US Office of Foreign Assets Control\u2019s Specially Designated Nationals list, effectively cutting them off from the US financial system.<\/p>\n
US Ambassador to Turkiye Tom Barrack attempted to distance the broader Turkish economy from the punitive measures. Speaking on X on Saturday, Barrack urged Turkish officials not to view the action as a judgment on Turkiye itself. \u201cThe health of the Turkish financial system is not in question; the conduct of one institution was,\u201d he wrote.<\/p>\n
This\u5236\u88c1 follows a similar move last week against Egypt\u2019s second-largest bank, where the US sought to sever its UAE operations from financial access over alleged processing of transactions for companies linked to Iran\u2019s shadow-banking system. Earlier in the week, Bessent indicated at the G20 summit that Washington planned to announce additional bank sanctions in the coming weeks as part of a ramped-up economic campaign against Tehran.<\/p>\n","protected":false},"excerpt":{"rendered":"
The US sanctioned a Turkish bank for alleged ties to Iran, prompting the bank to vow legal action while Washington maintains it is part of a broader campaign against Tehran.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1767,15,33,1768,1532,1531,68,10],"class_list":["post-783","post","type-post","status-publish","format-standard","hentry","category-world","tag-golden-global-bank","tag-iran","tag-middle-east","tag-ofac","tag-treasury-department","tag-turkey","tag-us-sanctions","tag-world"],"_links":{"self":[{"href":"https:\/\/yovao.com\/index.php\/wp-json\/wp\/v2\/posts\/783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yovao.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yovao.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yovao.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yovao.com\/index.php\/wp-json\/wp\/v2\/comments?post=783"}],"version-history":[{"count":0,"href":"https:\/\/yovao.com\/index.php\/wp-json\/wp\/v2\/posts\/783\/revisions"}],"wp:attachment":[{"href":"https:\/\/yovao.com\/index.php\/wp-json\/wp\/v2\/media?parent=783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yovao.com\/index.php\/wp-json\/wp\/v2\/categories?post=783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yovao.com\/index.php\/wp-json\/wp\/v2\/tags?post=783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}