Sanctions Target Turkish Financial Entities
The US Treasury Department announced new Iran-related sanctions on Friday, targeting three entities based in Turkey. The designated firms are Golden Global Portfoy Yonetimi Anonim Sirketi, Golden Global Varlik Kiralama Anonim Sirketi, and Golden Global Yatirim Bankasi Anonim Sirketi, according to the department's website.[S1]
Alongside the sanctions, the Treasury issued a general license permitting a wind-down of transactions with the sanctioned entities, allowing for an orderly transition.[S1]
Part of Broader Economic Campaign
This move is the latest in the Trump administration's efforts to economically pressure Tehran, six months into the US war with Iran, which has driven energy prices higher globally. Treasury Secretary Scott Bessent, who last month announced an 'economic onslaught' against Iran's financial links, has stated Washington aims to force Tehran back to negotiations.[S1]
Last week, the US cut off Egyptian lender Banque Misr's branches in the UAE from dollar transactions over their Iran dealings. In a recent interview, Bessent indicated the Treasury would likely impose new secondary sanctions weekly, initially focusing on banks.[S1]
