{"id":3922,"date":"2026-09-05T17:00:39","date_gmt":"2026-09-05T17:00:39","guid":{"rendered":"https:\/\/www.vaultinsider.top\/?p=3922"},"modified":"2026-09-05T17:00:39","modified_gmt":"2026-09-05T17:00:39","slug":"u-s-sanctions-turkish-bank-accusing-it-of-helping-iran-transfer-oil-revenue-from-china-to-turkey","status":"publish","type":"post","link":"https:\/\/www.vaultinsider.top\/?p=3922","title":{"rendered":"U.S. sanctions Turkish bank, accusing it of helping Iran transfer oil revenue from China to Turkey"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/fortune.com\/img-assets\/wp-content\/uploads\/2026\/09\/AP26244587221744-e1788621720609.jpg?w=2048\" \/><\/p>\n<p>The Trump administration announced Friday that it has imposed sanctions on a Turkish financial institution as part of its latest effort to\u00a0sever \u201ccritical financial lifelines\u201d\u00a0for the Iranian government.<\/p>\n<div>\n<p class=\"wp-block-paragraph\">The actions against Golden Global Yatirim Bankasi Anonim Sirketi come after Treasury Secretary Scott Bessent last week launched\u00a0\u201cOperation Economic Outcast,\u201d Washington\u2019s new effort to isolate already heavily sanctioned Iran from its remaining trading partners to try to get it to\u00a0capitulate to U.S. demands\u00a0after more than six months of war.<\/p>\n<p class=\"wp-block-paragraph\">The Treasury Department accused the Turkish bank and its entities of being established to enable Iran\u2019s efforts to transfer oil revenues from China to Turkey, where they could then be converted to cash and gold. It also said the institution \u201cknowingly offered\u201d banking services to Iranian financial entities, including those already sanctioned by the U.S. government in 2022 for funneling Tehran\u2019s oil sales.<\/p>\n<p class=\"wp-block-paragraph\">Bessent, who had told The Associated Press earlier this week that another bank would\u00a0face economic penalties, said financial institutions with ties to Iran will \u201ccontinue to find out the hard way that we are serious about Operation Economic Outcast.\u201d<\/p>\n<p class=\"wp-block-paragraph\">\u201cWhile we hope no more banks will need to be sanctioned, that ultimately depends on how quickly the international community comes to its senses and ceases support of the murderous Iranian regime,\u201d he said in a press release Friday. \u201cWe know who you are, we know where you are, and we will continue to take action together with our allies and partners until we have buried the head of the Iranian snake.\u201d<\/p>\n<p class=\"wp-block-paragraph\">But so far, the goal to force those that still do business with Iran to cut off financial ties or face U.S. retaliation has fallen flat, with promises of an\u00a0\u201ceconomic D-Day\u201d\u00a0for a group of countries that could include China and India quickly turning into warnings and negotiations with\u00a0Iran\u2019s trading partners.<\/p>\n<p class=\"wp-block-paragraph\">Bessent had previously told reporters that he wanted countries to have an opportunity to shift away from Iran before it was too late in a bid to avoid upending the global financial system.<\/p>\n<p class=\"wp-block-paragraph\">The Trump administration\u2019s\u00a0reluctance to penalize\u00a0major trading partners that still do business with Iran was on display last week when the U.S.\u00a0took steps\u00a0to limit an Egyptian bank\u2019s operations in the United Arab Emirates but stopped short of imposing sanctions.<\/p>\n<p class=\"wp-block-paragraph\">The U.S. also has\u00a0resumed military strikes\u00a0in recent days, prompting\u00a0Iranian retaliation in the region. It\u2019s unclear what the outcome of the two-pronged strategy will be for President Donald Trump, who has struggled to end an\u00a0unpopular war\u00a0with an intransigent Iranian government as\u00a0energy prices rise\u00a0and pose\u00a0problems for Republicans\u00a0before November\u2019s midterm congressional elections.<\/p>\n<p class=\"wp-block-paragraph\">Targeted in the latest U.S. sanctions is Golden Global Investment Bank, which was founded in 2019 as Turkey\u2019s first investment bank to offer \u201cbanking services and alternative financing methods\u201d to foreign companies, according to its website.<\/p>\n<p class=\"wp-block-paragraph\">The Istanbul-based bank, which is largely unfamiliar to most Turks, says it aims to increase Turkey\u2019s foreign trade through target markets in neighboring countries.<\/p>\n<p class=\"wp-block-paragraph\">The Treasury announcement came a day after Turkey\u2019s state-run Halkbank declared it had reached a settlement with the U.S. Justice Department in a nine-year case focused on violating sanctions with Iran.<\/p>\n<p class=\"wp-block-paragraph\">In that case, senior officials at Halkbank were said to have illegally moved about $20 billion worth of Iranian oil revenues. U.S. prosecutors claimed high-ranking Turkish government officials received millions of dollars in bribes to protect the scheme.<\/p>\n<p class=\"wp-block-paragraph\">The Halkbank case caused a rift in U.S.-Turkey relations, with Turkish President Recep Tayyip Erdogan personally lobbying the White House to have the case dropped.<\/p>\n<\/div>\n<p>#U.S #sanctions #Turkish #bank #accusing #helping #Iran #transfer #oil #revenue #China #Turkey<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Trump administration annou&hellip; <\/p>\n","protected":false},"author":1,"featured_media":3923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[6799,200,173,5170,456,717,449,1732,3770,6800,6798,687],"class_list":["post-3922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-accusing","tag-bank","tag-china","tag-helping","tag-iran","tag-oil","tag-revenue","tag-sanctions","tag-transfer","tag-turkey","tag-turkish","tag-u-s"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - 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