US Sanctions Turkish Bank and Subsidiaries Over Iranian Revenue Flows
Washington designates Istanbul-based Golden Global Bank and two financial affiliates under sanctions authorities aimed at curbing Iranian capital movement.
The United States has expanded its sanctions measures targeting Iranian financial channels, designating an Istanbul-based investment bank alongside two of its subsidiaries for allegedly facilitating the movement of petroleum revenues.
According to the US Department of the Treasury, the actions taken on September 4 targeted Golden Global Yatirim Bankasi Anonim Sirketi under existing Iran sanctions authorities. US authorities stated that the financial institution assisted Tehran in moving funds and securing access to the international banking system.
In addition to the parent institution, the Treasury placed two associated companies, Golden Global Portfoy Yonetimi and Golden Global Varlik Kiralama, onto its Specially Designated Nationals list. Both corporate entities operate as subsidiaries within the Turkish banking group.
The designations reflect Washington's ongoing measures to restrict revenue streams connected to Iranian energy transactions and increase oversight on regional financial intermediaries.
Source attribution
No external source recorded for this article.
This article is an original editorial summary. It does not reproduce the source text. See our AI & content policy.
Related coverage
Italian engineering firm Saipem has divested its Saudi shallow-water drilling arm to ADES, transferring five premium rigs and nearly $1 billion in backlog.
30d ago
Oil producers and traders prepare for an extended period of conflict between the US and Iran alongside higher energy prices.
35d ago
Precautionary shutdowns follow drone and missile attacks in the kingdom's southern region as Brent crude nears $100 per barrel.
40d ago
Omani authorities have evacuated 16 seafarers from a Saudi oil tanker after an Iranian attack in the Strait of Hormuz that claimed the lives of two crew members.
40d ago
Heightened tensions in the Strait of Hormuz follow an announcement by Iranian forces regarding missile tests directed toward US naval assets.
40d ago
The liquefied natural gas carrier Al Marrouna has transited the Strait of Hormuz for the first time since July after lifting cargo in Qatar.
40d ago