The U.S. Treasury Department on September 4, 2026, sanctioned Istanbul-based Golden Global Yatirim Bankasi Anonim Sirketi and two affiliates, alleging they moved Iranian oil proceeds from China through Turkey for conversion into cash and gold and facilitated tens of millions of dollars in transactions for the Islamic Revolutionary Guard Corps-Qods Force. The entities were added to OFAC's Specially Designated Nationals list under Secretary Scott Bessent's Operation Economic Outcast, cutting them off from the U.S. financial system. Golden Global denied the allegations, said it complied with local and international banking rules, and said it would pursue legal remedies. The bank also said parties named in the OFAC action were not, and had never been, its customers. U.S. Ambassador to Turkiye Tom Barrack said the measure concerned one institution and should not be treated as a judgment on Turkiye or its financial system. Treasury's action followed steps against the UAE operations of Banque Misr and came as Bessent said Washington was intensifying its economic campaign against Tehran.