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.
The operation announced last week to try to isolate Iran from its remaining global trade partners has already fallen flat, with promises of an “Economic D-Day” quickly turning into warnings and negotiations with Iran’s trading partners.
The Trump administration has also resumed military strikes in recent days, prompting Iranian retaliation that has renewed concerns of an all-out regional war. Its unclear what the outcome of the two-pronged strategy will be for the Trump administration, which has struggled to end a war with an intransigent Iranian government.
In a press release, Bessent said that financial institutions with ties to Iran will “continue to find out the hard way that we are serious about Operation Economic Outcast.”
“While we hope no more banks will need to be sanctioned, that ultimately depends on how quickly the international community comes to its senses and ceases support of the murderous Iranian regime,” he continued.
“We know who you are, we know where you are, and we will continue to take action together with our allies and partners until we have buried the head of the Iranian snake.”
