The United States Treasury Department imposed sanctions on Golden Global Yatirim Bankasi Anonim Sirketi to isolate the Iranian government economically.
The United States Treasury Department placed Golden Global Yatirim Bankasi Anonim Sirketi and its two subsidiaries on the Specially Designated Nationals list. This action cuts off the bank's access to the US financial system.
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The administration announced that the bank facilitated tens of millions of dollars in transactions for the Islamic Revolutionary Guard Corps-Qods Force and provided the Iranian government with banking access to move funds internationally. Washington alleged the bank was established to enable Iran’s shadow banking system to transfer oil revenues from China to Turkey using gold and cash. Secretary of the Treasury Scott Bessent stated that financial institutions are learning the impact of Operation Economic Outcast. Golden Global Yatirim Bankasi Anonim Sirketi responded by stating it fulfilled all local and international banking compliance rules. The bank claimed there are no transactions that substantiate the US allegations and noted that the individuals and entities named in the decision have never been customers of the bank. The bank stated it would take legal action against the US-imposed sanctions. US Ambassador to Turkiye Tom Barrack stated that the conduct of one institution was in question, rather than the health of the Turkish financial system.