The U.S. Treasury Department sanctioned Golden Global Yatirim Bankasi Anonim Sirketi and two Turkey-based affiliates on September 4 under Executive Order 13902, alleging they helped move Iranian oil revenues from China to Türkiye for conversion into cash and gold. Treasury said the entities provided Iran’s Islamic Revolutionary Guard Corps-Quds Force (IRGC-QF) access to international financial markets. The designations are part of Operation Economic Outcast, the Trump administration’s broader campaign to pressure Tehran and dismantle its shadow-banking infrastructure six months into Washington’s war with Iran, which has pushed energy prices higher worldwide. Treasury issued Iran General License CC for a 15-day wind-down, requiring transactions involving the designated entities to end by 12:01 a.m. EDT on September 19, 2026. Treasury Secretary Scott Bessent has said Washington is seeking to force Tehran back to negotiations and is likely to impose new secondary sanctions weekly, initially targeting banks. The campaign follows action against Banque Misr’s United Arab Emirates branches and includes a network linked to Turkish businessman Sitki Ayan, who was sanctioned in 2022 over alleged IRGC-QF oil sales.