{"id":1187633,"date":"2026-09-05T09:27:24","date_gmt":"2026-09-05T09:27:24","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/1187633\/"},"modified":"2026-09-05T09:27:24","modified_gmt":"2026-09-05T09:27:24","slug":"us-imposes-sanctions-on-turkish-bank-prompting-legal-threat-banks-news","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/1187633\/","title":{"rendered":"US imposes sanctions on Turkish bank, prompting legal threat | Banks News"},"content":{"rendered":"

US sanctions Turkish bank over alleged IRGC ties, accusing it of facilitating millions in transactions for Iran.<\/p>\n

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Published On 5 Sep 20265 Sep 2026<\/p>\n

The United States Treasury Department has imposed sanctions on a Turkish bank and its subsidiaries over alleged ties to Iran, as Washington seeks to economically isolate Tehran.<\/p>\n

The Treasury Department accused Golden Global Yatirim Bankasi Anonim Sirketi (Golden Global Bank) on Friday of facilitating \u201ctens of millions of dollars\u2019 worth of transactions for the Islamic Revolutionary Guard Corps-Qods Force\u201d and providing the Iranian government with banking access to move its funds internationally.<\/p>\n

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Washington alleged the bank \u201cwas established for the purpose of enabling Iran\u2019s rahbar network [shadow banking system] to transfer oil revenues from China to Turkey\u201d using gold and cash.<\/p>\n

Golden Global Bank responded on Friday, saying it fulfilled all local and international banking compliance rules and would take legal action against the US-imposed sanctions.<\/p>\n

There are no transactions conducted by Golden Global Bank that could substantiate the claims made by the US, the bank said in a news release.<\/p>\n

\u201cWe will exercise all our rights of objection and legal recourse in the most effective manner and will take the necessary actions at the earliest against these allegations and the decision,\u201d the Turkish bank added.<\/p>\n

\u201cFinancial institutions continue to find out the hard way that we are serious about Operation Economic Outcast,\u201d said Secretary of the Treasury Scott Bessent in a statement published by the department on Friday.<\/p>\n

The sanctions place the bank and its two subsidiaries on the US Office of Foreign Assets Control (OFAC)\u2019s Specially Designated Nationals list, cutting off access to the US financial system.<\/p>\n

The bank said individuals and entities named in the OFAC decision \u201chave never been and are not currently customers\u201d of Golden Global.<\/p>\n

US Ambassador to Turkiye Tom Barrack said on Saturday that it would be a mistake for Turkish officials \u201cto read [the US\u2019s] narrow measure as a judgement upon Turkiye\u201d.<\/p>\n

\u201cThe health of the Turkish financial system is not in question; the conduct of one institution was,\u201d Barrack said on X.<\/p>\n

Last week, the US took steps towards severing<\/a> the UAE operations of Egypt\u2019s second-largest bank from financial access after accusing it of processing transactions for companies linked to Iran\u2019s shadow-banking system.<\/p>\n

Bessent said on Tuesday on the sidelines of a G20 summit that Washington would likely announce a bank sanction this week and another next week, as it ramps up its economic campaign against Tehran.<\/p>\n","protected":false},"excerpt":{"rendered":"US sanctions Turkish bank over alleged IRGC ties, accusing it of facilitating millions in transactions for Iran. Published…\n","protected":false},"author":2,"featured_media":1187634,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5],"tags":[11410,331,12633,1395,1700,321,3058,774,839,11583,12,461,49,286,26],"class_list":["post-1187633","post","type-post","status-publish","format-standard","has-post-thumbnail","category-world","tag-asia-pacific","tag-banks","tag-business-and-economy","tag-china","tag-economy","tag-egypt","tag-international-trade","tag-iran","tag-middle-east","tag-money-laundering","tag-news","tag-turkey","tag-united-states","tag-us-canada","tag-world"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/117217727042540994","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/1187633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=1187633"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/1187633\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/1187634"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=1187633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=1187633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=1187633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}