On September 4, 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Türkiye-based Golden Global Yatirim Bankasi Anonim Sirketi (Golden Global Bank) under Executive Order 13902. Treasury said the bank knowingly offered correspondent banking services to Iranian financial institutions and facilitated tens of millions of dollars in transactions for the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF).

OFAC also designated Istanbul-based Golden Global Varlik Kiralama Anonim Sirketi and Golden Global Portfoy Yonetimi Anonim Sirketi. Treasury said the subsidiaries were designated as owned or controlled by, or acting for or on behalf of, Golden Global Bank.

Property and interests in property of the designated persons that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. Treasury also noted potential secondary-sanctions exposure for foreign financial institutions involved in certain significant transactions with designated persons.

WHY IT MATTERS

  • Financial institutions with relevant exposure should screen customers, counterparties, and transactions for the designated entities and any entities blocked under OFAC’s 50 Percent Rule.
  • The action highlights Treasury’s focus on correspondent-banking access and Iran-linked financial networks, including potential secondary-sanctions exposure for foreign financial institutions.