The U.S. Department of the Treasury’s Office of Foreign Assets Control designated Türkiye-based Golden Global Yatirim Bankasi Anonim Sirketi, known as Golden Global Bank, and two subsidiaries under sanctions targeting Iran’s financial sector. The action, part of Operation Economic Outcast, targets the bank for facilitating tens of millions of dollars in transactions for the Islamic Revolutionary Guard Corps-Qods Force and providing correspondent banking access that allowed Iranian funds to move internationally. According to Treasury, Golden Global Bank was established to transfer Iranian oil revenue from China to Türkiye for conversion into cash and gold. It also offered correspondent services to Iranian financial institutions and enabled transactions through accounts controlled by the IRGC-QF and its proxies. The designations also cover Golden Global Varlik Kiralama Anonim Sirketi and Golden Global Portfoy Yonetimi Anonim Sirketi because they are owned or controlled by the bank. Property and interests in property of the designated entities within the United States or controlled by U.S. persons are blocked and must be reported to OFAC. Entities owned 50% or more by blocked persons are also blocked, while foreign financial institutions facilitating significant transactions for the designated entities may face secondary sanctions, including restrictions on U.S. correspondent or payable-through accounts.
2026-09-04U.S. Department of the Treasury
U.S. Department of the Treasury sanctions Türkiye-based Golden Global Bank and two subsidiaries for facilitating Iranian financial access
The U.S. Department of the Treasury sanctioned Türkiye-based Golden Global Bank and two subsidiaries for facilitating IRGC-QF transactions and providing Iran with international correspondent banking access. Their U.S.-linked property is blocked, and foreign financial institutions handling significant transactions for them may face secondary sanctions.