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U.S. Treasury sanctions Iranian aviation sector and Turkish bank
The U.S. Treasury Department has launched a major expansion of economic pressure against Iran under ‘Operation Economic Outcast.’ The latest measures include sanctions against 36 entities, specifically targeting 27 Iranian airlines and various international aviation support firms. Washington alleges these entities facilitate the transport of weapons, personnel, and illicit cargo for the Islamic Revolutionary Guard Corps (IRGC).
The sanctions target procurement networks in the United Arab Emirates, Turkey, Malaysia, Kazakhstan, and the United Kingdom. These networks are accused of helping Mahan Air, a previously sanctioned airline, acquire sensitive technology and aircraft, including at least three Boeing 777s via intermediaries in the UAE and Oman.
Additionally, the Treasury has sanctioned the Istanbul-based Golden Global Yatırım Bankası and its subsidiaries, accusing them of facilitating tens of millions of dollars in transactions for the IRGC-Quds Force and helping move oil revenue from China to Turkey.
In response to the escalating economic warfare, Iranian officials have warned that continued pressure could lead to the establishment of a maritime exclusion zone in the Persian Gulf, potentially disrupting global energy markets and shipping through the Strait of Hormuz.
Entities
Golden Global Yatirim Bankasi · Golden Global Yatırım Bankası · Islamic Revolutionary Guard Corps · Islamic Revolutionary Guard Corps-Qods Force · Islamic Revolutionary Guard Corps-Quds Force · Mahan Air · Scott Bessent · Tom Barrack · Turkey · Türkiye · U.S. Department of the Treasury
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 4 SOURCES] Golden Global Bank denied the allegations, stating it has not conducted transactions that substantiate the U.S. claims. bazaartimes.com · cryptobriefing.com · halktv.com.tr
- [● 3 SOURCES] The bank allegedly helped transfer Iranian oil revenues from China to Türkiye to be converted into cash and gold. bazaartimes.com · goachronicle.com · halktv.com.tr
- [○ 1 SOURCE] U.S. Ambassador Tom Barrack stated the designation targets a single entity and not the nation of Türkiye.
- [○ 1 SOURCE] A temporary general license was issued allowing the bank a window to wind down existing transactions until September 19, 2026. cryptobriefing.com
- [● 10 SOURCES] The sanctions are part of Operation Economic Outcast, an initiative to sever Iranian financial lifelines. bazaartimes.com · ritzherald.com · cryptobriefing.com · www.infobae.com · www.al-monitor.com · +5 more
- [○ 1 SOURCE] The sanctions freeze any assets held by the designated entities within U.S. jurisdiction. cryptobriefing.com
- [DISPUTED] The U.S. sanctioned 36 entities, including 27 Iranian airlines and various foreign intermediaries, for supporting Iran’s aviation sector. www.infobae.com · www.al-monitor.com · wtop.com · www.independent.co.uk · www.ekoturk.com · +6 more
- [● 6 SOURCES] Golden Global Yatirim Bankasi and its subsidiaries Golden Global Varlik Kiralama and Golden Global Portfoy Yonetimi are sanctioned for alleged links to the IRGC-Qods Force. bazaartimes.com · ritzherald.com · cryptobriefing.com · goachronicle.com · halktv.com.tr
- [● 6 SOURCES] The US government suspended exemptions allowing non-US companies to fly US-manufactured aircraft to Iran. athina984.gr · www.cnn.gr · www.ekoturk.com · keyt.com · localnews8.com · +1 more
- [○ 1 SOURCE] A total of 36 Iranian entities have been sanctioned. www.powergame.gr
- [● 7 SOURCES] Scott Bessent warned that entities cooperating with sanctioned Iranian airlines risk exclusion from the global financial system. athina984.gr · www.powergame.gr · www.cnn.gr · www.ekoturk.com · toronto.citynews.ca · +2 more
- [● 7 SOURCES] Companies from the UAE and Turkey were sanctioned for acting as intermediaries to help Mahan Air acquire three Boeing 777 aircraft by summer 2026. athina984.gr · www.cnn.gr · www.tromaktiko.gr · questiondigital.com · kagonma-info.com · +2 more