US issues sanctions on Turkish bank that it calls a ‘critical financial lifeline’ for Iran

The Trump administration announced Friday that 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 after Treasury Secretary Scott Bessent last week launched “Operation Economic Outcast”, Washington’s new effort to isolate already heavily sanctioned Iran from its remaining trading partners to try to get it to capitulate to US demands after more than six months of war.