Turkish "Golden Global" reacts to U.S. Iran sanctions
The US Treasury Department has imposed new sanctions on a small Turkish investment bank and two affiliated entities, accusing them of enabling the Iranian banking shadow network to transfer oil revenues. This is done by providing banking services to Iranian institutions and transferring funds to Turkey, allowing them to convert the proceeds into cash and gold. The department confirmed their isolation from the US financial system and described them as a threat to the economic pressure efforts on Iran. It also anticipated continued weekly sanctions on other banks to support pressure efforts on Tehran.
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