US Targets Turkish Bank Tied to Iran's IRGC, Blocks Oil Exports to China

Treasury Secretary Scott Bessent has announced that Washington will continue to take action against Iran's financial enablers until 'we have buried the head of the Iranian snake.' This follows the designation of Golden Global Bank and its subsidiaries for facilitating tens of millions of dollars in transactions for the Islamic Revolutionary Guard Corps Quds Force.

The Treasury Department has also revealed that no Iranian crude has successfully reached China since the US reinstated its naval blockade, contradicting Iran's claims of maintaining oil export capacity.

The designation of Golden Global Bank represents a significant geographic expansion of Operation Economic Outcast's enforcement reach, targeting Turkish financial entities and demonstrating that Washington's sanctions campaign will not spare allied nations whose institutions are found to be facilitating Iranian transactions or IRGC financing.