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

WASHINGTON (AP) — 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” as the new effort by Washington to get Tehran to capitulate to its demands after more than six months of war.

Last week, the U.S. targeted an Egyptian bank’s operations in the United Arab Emirates.