US sanctions Turkish financial institution over alleged IRGC ties, accusing it of facilitating tens of millions in transactions for Iran.
Revealed On 5 Sep 2026
The USA Treasury Division has imposed sanctions on a Turkish financial institution and its subsidiaries over alleged ties to Iran, as Washington seeks to economically isolate Tehran.
The Treasury Division accused Golden World Yatirim Bankasi Anonim Sirketi (Golden World Financial institution) on Friday of facilitating “tens of tens of millions of {dollars}’ value of transactions for the Islamic Revolutionary Guard Corps-Qods Pressure” and offering the Iranian authorities with banking entry to maneuver its funds internationally.
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Washington alleged the financial institution “was established for the aim of enabling Iran’s rahbar community [shadow banking system] to switch oil revenues from China to Turkey” utilizing gold and money.
Golden World Financial institution responded on Friday, saying it fulfilled all native and worldwide banking compliance guidelines and would take authorized motion towards the US-imposed sanctions.
There are not any transactions performed by Golden World Financial institution that might substantiate the claims made by the US, the financial institution stated in a information launch.
“We’ll train all our rights of objection and authorized recourse in the best method and can take the required actions on the earliest towards these allegations and the choice,” the Turkish financial institution added.
“Monetary establishments proceed to search out out the onerous method that we’re critical about Operation Financial Outcast,” stated Secretary of the Treasury Scott Bessent in an announcement revealed by the division on Friday.
The sanctions place the financial institution and its two subsidiaries on the US Workplace of International Property Management (OFAC)’s Specifically Designated Nationals listing, reducing off entry to the US monetary system.
The financial institution stated people and entities named within the OFAC resolution “have by no means been and will not be at the moment prospects” of Golden World.
US Ambassador to Turkiye Tom Barrack stated on Saturday that it might be a mistake for Turkish officers “to learn [the US’s] slim measure as a judgement upon Turkiye”.
“The well being of the Turkish monetary system will not be in query; the conduct of 1 establishment was,” Barrack stated on X.
Final week, the US took steps towards severing the UAE operations of Egypt’s second-largest financial institution from monetary entry after accusing it of processing transactions for corporations linked to Iran’s shadow-banking system.
Bessent stated on Tuesday on the sidelines of a G20 summit that Washington would probably announce a financial institution sanction this week and one other subsequent week, because it ramps up its financial marketing campaign towards Tehran.
