US targets Turkish entities with Iran-related sanctions

The U.S. Treasury Department issued new Iran-related sanctions on Friday, targeting three ‌Turkey-based entities, according to the department's website.

The entities targeted are Golden Global Portfoy Yonetimi Anonim Sirketi, Golden Global Varlik Kiralama Anonim Sirketi, and Golden Global Yatirim Bankasi Anonim Sirketi.

The Treasury Department ⁠also issued a general license to allow the wind down of transactions with the sanctioned entities.

The action is the latest in the Trump administration's campaign to economically pressure Tehran six months into Washington's war with Iran, which has pushed energy prices higher worldwide.

Treasury Secretary Scott Bessent, who last month announced an "economic onslaught" ‌against ⁠Iran's financial links around the world, has said Washington is seeking to force Tehran back to the negotiating table.

Last week, Washington moved to cut off Egyptian lender Banque ⁠Misr's branches in the United Arab Emirates from U.S. dollar transactions over their dealings with Iran.

In an interview with ⁠Reuters on Sunday, Bessent said the Treasury Department was likely to roll out new secondary sanctions every ⁠week, initially focusing on banks, as part of a broader campaign to intensify economic pressure on Iran.

Reuters