US sanctions decision against Golden Global Investment Bank

ECONOMY SERVICE - With the decision, in addition to Golden Global Investment Bank, Golden Global Portfolio Management and Golden Global Asset Leasing were also included in the sanctions list of the USA. Following this decision, all three companies were added to the US Specially Designated Persons and Blocked Persons List.

Oil trade with China

It is stated that the sanctions came due to oil trade-related transactions between Iran and China. It is thought to be part of a financial network that allows Iran to convert oil revenues from China into cash and gold through Türkiye.

On the other hand, experts point out that no steps are taken against China, which imports more than 90 percent of Iranian oil.

Barrack: The target is not the Turkish banking system

Following the US's sanction decision against Golden Global Investment Bank due to Iran-related transactions, US Ambassador to Ankara Tom Barrack stated that the sanction decision did not target Turkey or the Turkish banking system. Barrack stated that the sanctions were aimed at certain financial institutions that were allegedly involved in the transfer of funds on behalf of the Quds Force of the Iranian Revolutionary Guard Corps.

Golden Global: We did not take any action

Golden Global Investment Bank, on the other hand, rejected OFAC's claims. The bank announced that the persons and institutions mentioned in the sanction decision are not its customers and that it has not carried out any transactions with these parties. This decision came after US Treasury Secretary Scott Bessent announced this week that action would be taken against a new banking group.