U.S. issues sanctions on Turkish bank that it calls a ‘critical financial lifeline’ for Iran

The U.S. Treasury announced Friday it has imposed sanctions on a Turkish financial institution as part of its latest effort to sever “critical financial lifelines” for the Iranian government. The actions against Golden Global Yatirim Bankasi Anonim Sirketi come nearly a week after Treasury Secretary Scott Bessent announced “Operation Economic Outcast, ” Washington’s new effort to get Tehran to capitulate to its demands after more than six months of war. The department accused the bank and its entities of being established to enable Iran’s efforts to transfer oil revenues from China to Turkey, where they could then be converted to…