Golden Global Bank sanctioned by US for alleged Iran ties

Golden Global Bank US sanctions Iran economic pressure Operation Economic Outcast Turkish financial sector

The US Treasury Department has imposed sanctions on the Istanbul-based Golden Global Yatirim Bankasi Anonim Sirketi and two of its subsidiaries, Golden Global Portfoy Yonetimi Anonim Sirketi and Golden Global Varlik Kiralama Anonim Sirketi. The entities were added to the Specially Designated Nationals (SDN) list for allegedly facilitating tens of millions of dollars in transactions for the Islamic Revolutionary Guard Corps-Qods Force.

According to US officials, the bank was established to enable Iran’s shadow banking network to transfer oil revenues from China to Turkey, where funds were converted into cash and gold. The sanctions are part of ‘Operation Economic Outcast,’ a Trump administration initiative aimed at isolating Iran from its remaining trading partners and forcing Tehran to return to negotiations.

Golden Global Bank has denied the allegations, stating that it complies with all local and international banking regulations and that the accused entities were not its customers. US Ambassador to Turkey Tom Barrack clarified that the sanctions target a specific institution and are not a reflection on the broader Turkish banking system or US-Turkey relations.

Entities

Donald Trump · Golden Global Bank · Golden Global Yatirim Bankasi Anonim Sirketi · Islamic Revolutionary Guard Corps · Islamic Revolutionary Guard Corps-Qods Force · Islamic Revolutionary Guard Corps-Quds Force · Scott Bessent · Tom Barrack · Turkey · US Department of the Treasury · US Treasury Department

Claims

What the coverage asserts, and how many sources carry each claim.

[● 3 SOURCES] US companies and citizens are prohibited from cooperating with companies placed on the Treasury Department's blacklist. www.tromaktiko.gr · www.mononews.gr · www.sofokleousin.gr
[● 5 SOURCES] The US previously excluded a branch of Egypt's state-owned Misr Bank in the UAE from the US financial system for transactions with Iran. www.tromaktiko.gr · www.mononews.gr · www.sofokleousin.gr · www.albiladpress.com · www.dimokratia.gr
[● 9 SOURCES] Golden Global Bank facilitated the transfer of Iranian funds abroad. www.tromaktiko.gr · www.mononews.gr · www.protagon.gr · www.sofokleousin.gr · www.dimokratia.gr · +3 more
[● 40 SOURCES] The US Treasury Department blacklisted Golden Global Bank for facilitating transactions for the Islamic Revolutionary Guard Corps. www.tromaktiko.gr · www.mononews.gr · www.protagon.gr · www.sofokleousin.gr · www.durangoherald.com · +31 more
[● 15 SOURCES] US Treasury Secretary Scott Bessent had previously warned that new sanctions would be imposed on a financial institution to increase pressure on Tehran. www.tromaktiko.gr · www.mononews.gr · www.protagon.gr · www.sofokleousin.gr · www.durangoherald.com · +9 more
[● 36 SOURCES] Golden Global Portfoy Yonetimi Anonim Sirketi and Golden Global Varlik Kiralama Anonim Sirketim were added to the SDN list. www.brasilemfolhas.com.br · nemesishd.gr · www.albiladpress.com · www.durangoherald.com · news50.sa · +28 more
[● 16 SOURCES] The sanctioned entities allegedly facilitated transactions for the Islamic Revolutionary Guard Corps-Quds Force. www.brasilemfolhas.com.br · nemesishd.gr · news50.sa · www.al-monitor.com · www.newsbeast.gr · +9 more
[● 23 SOURCES] The US Treasury Department sanctioned Golden Global Yatirim Bankasi Anonim Sirketi and two subsidiaries. www.durangoherald.com · www.brasilemfolhas.com.br · www.newindianexpress.com · nemesishd.gr · www.al-monitor.com · +15 more
[● 14 SOURCES] Golden Global Bank was established to facilitate the transfer of Iranian oil revenues from China to Turkey for conversion into cash and gold. www.durangoherald.com · www.brasilemfolhas.com.br · www.newindianexpress.com · nemesishd.gr · www.dnews.gr · +8 more
[● 17 SOURCES] The sanctions are part of a US initiative called ‘Operation Economic Outcast’ to isolate Iran from its remaining trading partners. www.durangoherald.com · www.brasilemfolhas.com.br · tuzlanski.ba · www.newindianexpress.com · nemesishd.gr · +11 more
[● 5 SOURCES] Golden Global Bank denied that the alleged transactions occurred through its services and stated the sanctioned entities were not its customers. haitigazette.com · jajce-online.com · dokuz8haber.net · www.ogunhaber.com