US imposes sanctions on Turkish bank and two subsidiaries
The US Department of the Treasury has imposed sanctions on the Istanbul-based investment bank Golden Global Yatirim Bankasi Anonim Sirketi and two of its subsidiaries. These are the asset management company Golden Global Portfoy Yonetimi Anonim Sirketi and the asset leasing company Golden Global Varlik Kiralama Anonim Sirketi, Asharq Al-Awsat reports.
SDN sanctions list
The US Treasury Department’s Office of Foreign Assets Control added all three entities to the SDN sanctions list. According to the US agency, this cuts them off from the financial system based on dollar settlements.
At the same time, the US Treasury issued a general license allowing the winding down of transactions with the sanctioned entities. The bank did not comment in response to journalists’ request.
Statements by the US Treasury
The US Treasury Department stated that Golden Global was established to facilitate the operations of Iran’s shadow banking network. According to the department, proceeds from sales of Iranian oil in China could have been transferred to Turkey through this entity and then converted into cash and gold through currency exchangers.
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The US Treasury also stated that the bank knowingly offered correspondent banking services to Iranian financial institutions. According to the department, this made it possible to conduct transactions through accounts controlled by the Quds Force of Iran’s Islamic Revolutionary Guard Corps and affiliated entities.
According to TheBanks.EU, Golden Global Yatirim Bankasi ranked 35th among Turkish banks by assets. In 2025, its assets amounted to 25.02468 billion Turkish liras, or about $516.63 million.
US Treasury Secretary Scott Bessent said that Washington could impose new secondary sanctions every week, initially focusing on banks. He also said that the United States seeks to bring Tehran back to negotiations.
