US sanctions Turkish bank over alleged Iran financial links, issues wind-down license
The United States sanctioned Golden Global Bank and two Turkish subsidiaries, accusing the lender of facilitating tens of millions of dollars in transactions tied to Iran’s IRGC-Quds Force.
WASHINGTON, September 4, 2026 — The US Treasury Department’s Office of Foreign Assets Control added Türkiye-based Golden Global Yatirim Bankasi Anonim Sirketi, also known as Golden Global Investment Bank, and two subsidiaries to its Specially Designated Nationals and Blocked Persons List under Executive Order 13902.
Treasury said Golden Global Bank provided international banking access to the Iranian government and facilitated tens of millions of dollars in transactions for the Islamic Revolutionary Guard Corps-Quds Force.
According to Treasury, the bank was established to help an Iranian network move oil revenues from China to Türkiye, where proceeds could be converted into cash and gold.
OFAC also designated Golden Global Varlik Kiralama Anonim Sirketi and Golden Global Portfoy Yonetimi Anonim Sirketi because they are owned or controlled by Golden Global Bank.
Treasury said the bank had knowingly offered correspondent banking services to Iranian financial institutions and enabled transactions involving accounts controlled by the IRGC-Quds Force and its proxies.
OFAC also issued a general license authorizing certain transactions necessary to wind down activities involving the newly designated entities, subject to the license terms and applicable deadlines.
The action forms part of a broader US effort to restrict financial channels that Treasury says enable Iran to access and move revenues despite sanctions.
Regulatory Actions
Structured data extracted from official sources and validated by sanctions experts