US imposes sanctions on Turkish bank over alleged financial facilitation for Iran

The United States Department of the Treasury has added the Turkey-based Golden Global Yatirim Bankasi Anonim Sirketi to its sanctions list. US officials have described the bank as a "critical financial lifeline" for the Islamic Republic, alleging it assists Tehran in circumventing international sanctions. According to the Treasury's statement, the bank has been involved in facilitating the movement of Iranian oil revenues from China to Turkey and has provided financial services to sanctioned Iranian entities. This move is part of Washington's broader efforts to block Iran's access to foreign currency and oil-related income. US officials have reiterated that any financial institution found to be facilitating Iran's illicit activities will face significant consequences.