The US Treasury sanctioned Golden Global Bank, Turkey’s 35th-largest lender, accused of funneling tens of millions of dollars for Iran’s IRGC-Qods Force. The designation freezes assets under US jurisdiction and bans transactions with the bank and its two subsidiaries. The financial institution denies the allegations and announces plans to contest the sanctions through legal channels. These measures are part of Operation Economic Outcast, an initiative designed to choke off revenue streams keeping the Iranian regime financially viable.
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