Sanctions spotlight: Golden Global Bank is a Turkish lender now entwined in a US sanction wave tied to Iran actions as authorities widen financial pressure.
The US Treasury has placed Golden Global Bank and two subsidiaries on its sanctions list, accusing the Istanbul-based lender of moving tens of millions of dollars for Iran's Islamic Revolutionary Guard Corps-Qods Force and enabling Tehran to shift oil revenue through Turkey. The bank has denied the allegations and said it will pursue legal action; Washington says the move severs the institution from the US financial system.