U.S. Targets Turkish Bank In Push To Cut Off Iranian Funding
The U.S. Department of the Treasury issued sanctions Friday against Golden Global Bank, a financial institution based in Türkiye, as part of an ongoing campaign to disrupt Iranian financial operations abroad.
The penalties fall under a broader U.S. government initiative designated as Operation Economic Outcast. According to official statements, the program is designed to block Iran from using foreign banking channels to move capital, bypass trade restrictions, and finance allied militant groups throughout the Middle East.
U.S. officials described the move as a direct warning to international lenders handling Iranian money.
“This action sends a clear message to financial institutions worldwide: facilitating Iran’s illicit financial activity carries serious consequences,” the press release stated. “This demonstrates the Trump Administration’s commitment to eliminating resources the regime uses to threaten regional stability, support terrorism, and advance its military capabilities.”
The Treasury’s designation effectively restricts the Turkish bank from accessing the U.S. financial system and prohibits American individuals and entities from conducting business with it.
The administration stated that it plans to keep using financial and diplomatic measures against Tehran until the government halts its regional military backing and proxy funding.
“The United States will continue to use every diplomatic and economic tool at its disposal to isolate the Iranian regime until it abandons its support for terrorism and its destabilizing activities in the region,” the statement said. “We urge the international community to join this effort and ensure no institution serves as a financial lifeline for a regime that threatens peace and security.”
Neither Golden Global Bank nor Iranian officials immediately issued a public response to the sanctions announcement.