US sanctions Turkish financial institution over alleged IRGC ties, accusing it of facilitating hundreds of thousands in transactions for Iran.
Printed On 5 Sep 2026
The US 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 International Yatirim Bankasi Anonim Sirketi (Golden International Financial institution) on Friday of facilitating “tens of hundreds of thousands of {dollars}’ price of transactions for the Islamic Revolutionary Guard Corps-Qods Power” 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 International 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 International Financial institution that would 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 simplest 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 exhausting approach that we’re severe about Operation Financial Outcast,” stated Secretary of the Treasury Scott Bessent in a press release printed by the division on Friday.
The sanctions place the financial institution and its two subsidiaries on the US Workplace of Overseas Belongings Management (OFAC)’s Specifically Designated Nationals checklist, slicing off entry to the US monetary system.
The financial institution stated people and entities named within the OFAC choice “have by no means been and are usually not at present prospects” of Golden International.
US Ambassador to Turkiye Tom Barrack stated on Saturday that it will 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 firms 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.
