KABUL (Pajhwok): The US Treasury Department has sanctioned a Turkish investment bank and two affiliated companies for allegedly facilitating financial transactions linked to Iran and the Islamic Revolutionary Guard Corps’ (IRGC) Quds Force. Golden Global Bank rejected the allegations.
According to Reuters, the Treasury Department said on Friday that it had added Istanbul-based Golden Global Investment Bank, Golden Global Portfolio, an asset management company and Golden Global Varlik, an asset leasing company, to its sanctions list.
The Treasury’s Office of Foreign Assets Control (OFAC) said the three entities had been placed on its Specially Designated Nationals (SDN) list, cutting them off from the US dollar-based financial system.
The Treasury also issued a general licence allowing transactions with the sanctioned entities to be wound down.
The department alleged that Golden Global Bank had been established to support Iran’s informal banking network and facilitate the transfer of Iranian oil revenues from China to Turkey, where the proceeds could be converted into cash and gold through money changers.
It also alleged that the bank had knowingly provided correspondent banking services to Iranian financial institutions and facilitated transactions through accounts controlled by the Quds Force of the IRGC and individuals and companies affiliated with it.
The latest US government action sends a clear message to institutions that, in Washington’s view, are facilitating trade with Iran and the IRGC, Treasury Secretary Scott Bessent said in a statement.
He added that the United States would continue taking action against such entities in coordination with its allies and partners.
Meanwhile, Golden Global Bank rejected the Treasury Department’s allegations, saying it had complied with local and international banking and compliance requirements.
The bank said it would pursue its legal rights against what it described as “unfounded” allegations. It also said the individuals and entities named in the OFAC sanctions decision were not its customers and that it had no direct or indirect dealings with them.
kk/sa
