US sanctions Turkish bank for facilitating Iranian oil revenue transfers

The U.S. Treasury has imposed sanctions on Golden Global Yatirim Bankasi Anonim Sirketi, a Turkish bank, as part of its efforts to disrupt financial support for the Iranian government. This action follows the announcement of "Operation Economic Outcast" by Treasury Secretary Scott Bessent, aimed at compelling Iran to comply with U.S. demands. The bank is accused of facilitating significant financial transactions for Iranian entities and transferring oil revenues from China to Turkey.