US Targets Türkiye-Based Bank in Latest Iran Financial Sanctions

By Mintesinot Nigussie  |  September 7, 2026

The United States has sanctioned Türkiye-based Golden Global Bank as part of a wider campaign to restrict Iran’s access to the international financial system and disrupt networks Washington says the Iranian regime uses to move illicit funds and finance regional activities.

The US Department of the Treasury announced the sanctions as part of what Washington calls “Operation Economic Outcast”, a government-wide effort aimed at disrupting financial networks that it says enable Iran to launder money and evade US sanctions.

The latest action sends a warning to financial institutions that facilitate transactions linked to Iran, the US said, arguing that institutions involved in illicit financial activity could face significant economic consequences.

Washington said the measures are intended to limit resources it alleges Iran uses to support militant groups in the Middle East, pursue military capabilities and carry out activities that threaten US interests and regional partners.

The US administration said it would continue using diplomatic and economic measures to isolate Iran until Tehran ends what Washington describes as its support for terrorism and destabilising regional activities.

The action also highlights the growing use of financial sanctions as a tool of US foreign policy, with Washington seeking to pressure banks and other financial institutions outside Iran to limit their exposure to transactions involving the Iranian financial system.

The United States urged financial institutions and governments internationally to cooperate with its efforts, warning that institutions that provide channels for Iran’s illicit financial activity risk becoming part of networks targeted by US sanctions.

Source: FSX Business News