U.S. sanctions Turkish bank and two subsidiaries for facilitating China-Iran trade

(Central News Agency, Washington, 4th Comprehensive Foreign News Report) The U.S. Treasury Department imposed sanctions on a small Turkish investment bank and two subsidiaries today, as part of the Trump administration's efforts to increase economic pressure on Iran.

The Treasury Department said Istanbul-based Golden Global Yatirim Bankasi Anonim Sirketi, asset management company Golden Global Portfoy Yonetimi Anonim Sirketi, and asset leasing company Golden Global Varlik Kiralama Anonim Sirketi were designated for sanctions for helping facilitate trade between China and Iran’s Islamic Revolutionary Guard Corps (IRGC) Quds Force (Qods Force).

Reuters reported that the action marked the first time a bank from a North Atlantic Treaty Organization (NATO) ally had been hit in the Trump administration's current pressure campaign.

As the US military launches military strikes and imposes a naval blockade on the Strait of Hormuz, which still fails to force Iran to return to the negotiating table, Washington is gradually tightening economic pressure on Tehran.

The Treasury Department's Office of Foreign Assets Control (OFAC) said the sanctions put the three entities on a list of "Specially Designated Nationals," cutting them off from the U.S. dollar-based financial system.

The Treasury Department also issued a general license allowing for the phase-out of transactions with sanctioned entities.

Treasury Secretary Scott Bessent said in a statement that the U.S. government's latest actions send a clear message to those institutions suspected of facilitating trade with Iran and its Islamic Revolutionary Guard Corps.

"We know who you are and where you are, and we will continue to work with our allies and partners until Iran is completely eradicated," Bessant said.

Gold Global Investment Bank, Türkiye's 35th largest bank, refuted the U.S. Treasury Department's accusations.

Gold Global Investment Bank said it has always complied with local and international banking regulations and compliance requirements, adding that it would seek legal means to defend its rights and interests against baseless accusations.