Türk Bankası Golden Global Bank, on the US Sanctions List

The U.S. Treasury Department, within its economic pressure policy against Iran, issued a sanctions decision regarding the Turkey‑based Golden Global Investment Bank A.Ş. The Treasury’s Office of Foreign Assets Control (OFAC) added not only the bank but also two Istanbul‑based subsidiaries to the sanctions list. Washington alleged that the bank facilitated the execution of financial transactions amounting to tens of millions of dollars on behalf of the Islamic Revolutionary Guard Corps – Jerusalem Force (IRGC‑QF) and helped the Iranian regime gain access to critical banking facilities for international money transfers.

Decision Announced on September 4

The U.S. administration announced the sanctions decision on September 4, 2026. The Treasury described the move as part of an “Economic Exclusion Operation” targeting the Iranian regime’s financial ties in Turkey. The department claimed that Golden Global Bank provides correspondent banking services that grant Iran access to the international financial system and that these channels enable the transfer of Iranian‑linked funds to other countries.

Financial Network Allegation from Washington

The Treasury’s statement also included more detailed accusations against the bank. According to the claim, Golden Global Bank was used to facilitate the transfer of oil revenues earned by Iran’s leadership network from China to Turkey and the subsequent conversion of those revenues into cash and gold. The department also alleged that the bank provided correspondent banking services to Iranian financial institutions, enabling financial transactions through accounts controlled by the IRGC‑QF and affiliated entities.

Two Subsidiaries Added to the List

The sanctions decision was not limited to Golden Global Yatırım Bankası alone. The bank's two subsidiaries operating in Turkey, Golden Global Varlık Kiralama A.Ş. and Golden Global Portföy Yönetimi A.Ş., were also placed on the sanctions list under the same scope. OFAC records indicate that both companies are linked to Golden Global Yatırım Bankası, and the entities are headquartered in Istanbul.

Order No. 13902 Implemented

The U.S. Treasury Department announced that the legal basis for placing Golden Global Bank under sanctions is Presidential Order No. 13902. According to the department, the bank was targeted under this order because it engaged in significant transactions with Iran's economy in the financial sector. Washington also claimed that the bank had been involved in major transactions related to the sale, supply, or transfer of goods or services to Iran's financial sector after January 10, 2020.

Assets in the U.S. Will Be Blocked

Following the sanctions decision, the assets and related rights of the entities listed will be blocked if they are located in the United States or under the control of U.S. persons. The U.S. Treasury Department stated that U.S. persons are prohibited from dealing with sanctioned entities unless authorized by a specific or general license. Washington also warned that foreign financial institutions conducting certain transactions with those entities could face secondary sanctions risk.

Harsh Message from Scott Bessent

U.S. Treasury Secretary Scott Bessent said that financial institutions should take Washington's sanctions policy against Iran into account following the decision. Bessent stated that they do not want sanctions applied to more banks, but that this depends on how quickly the international community ends its financial support to the Iranian regime. The Treasury Department announced that measures targeting Iran's financial networks would continue.