The U.S. Treasury Department's OFAC has sanctioned Turkey-based Golden Global Bank and its subsidiaries under 'Operation Economic Exodus,' accusing them of facilitating tens of millions of dollars for the Iranian regime. The action severs a critical financial conduit for Iran in Turkey, increasing economic pressure. The Treasury pledged to continue working with allies to combat Iran's illicit financing networks.
The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has slapped sanctions on Golden Global Bank, based in Turkey, and its subsidiaries under 'Operation Economic Exodus.' Treasury said the move cuts off a key financial lifeline for the Iranian regime, with the banks accused of moving tens of millions of dollars for Iran. The sanctions are meant to stop Iran from getting at funds through the Turkish financial system and to ratchet up economic pressure on Tehran. And the Treasury said it will keep working with allies to fight Iran's illicit financing networks.
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