"Supporting Iran's Military Transactions"... Treasury Department Imposes Additional Sanctions on Turkish Bank

[Financial News] The administration of U.S. President Donald Trump has added a Turkish financial institution to its sanctions list as part of its pressure campaign against Iran.
According to foreign media reports on the 4th local time, the Office of Foreign Assets Control (OFAC) said that day, "Golden Global Bank, a Türkiye-based financial institution, and its subsidiaries have been designated for sanctions."
Under the measure, the bank is barred from conducting transactions within the U.S. financial system.
OFAC explained that the institutions played a key role in enabling transactions worth tens of millions of dollars for the Quds Force, the elite unit of Iran's Islamic Revolutionary Guard Corps (IRGC), among other activities.
Earlier, U.S. Treasury Secretary Scott Bessent announced late last month a new sanctions strategy against Iran, dubbed Operation Economic Outcast, to pressure the Iranian government into accepting U.S. demands. The Treasury Department subsequently sanctioned the United Arab Emirates (UAE) branch of Banque Misr, Egypt's state-owned bank.
[email protected] Kang Myung-yeon Reporter