US Treasury sanctions Istanbul-based Golden Global bank over Iran trade

September 6, 2026 at 06:08 AM2 min

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The US Treasury Department sanctioned Istanbul-based Golden Global Yatırım Bankası AŞ and two affiliated firms for facilitating trade between China and Iran's Islamic Revolutionary Guard Corps Quds Force. Golden Global denied the allegations. US Ambassador to Turkey Tom Barrack said the action targets a single institution, not Turkey or its banking system.

Key Facts

The US Treasury sanctioned Golden Global Yatırım Bankası AŞ, Golden Global Portföy Yönetimi AŞ, and Golden Global Varlık Kiralama AŞ on charges of facilitating trade between China and Iran's IRGC-QF.
Golden Global was founded in 2019; its board chairman is Recep Kaba and its general manager is Yavuz Yeter.
The bank's largest shareholders are Emir Kaya with 54% and Salih Berberoğlu with 32%.
Sanctions expert Miad Maleki said this is the first direct US sanction against a bank operating in a NATO country under the current Iran campaign.
US Ambassador Tom Barrack said the sanction targets a single institution and should not be interpreted as a judgment on Turkey.

Sanctions Announcement

The US Treasury Department added Istanbul-based Golden Global Yatırım Bankası AŞ, Golden Global Portföy Yönetimi AŞ, and Golden Global Varlık Kiralama AŞ to its sanctions list. Washington accused the three companies of facilitating trade between China and Iran's Islamic Revolutionary Guard Corps Quds Force (IRGC-QF). The Treasury announcement was titled "US Treasury cuts off the Iranian regime's financial lifelines in Turkey." Golden Global denied the allegations.

Company Profile

Golden Global Yatırım Bankası AŞ was founded in 2019, according to Turkey's Public Disclosure Platform (KAP). Recep Kaba serves as board chairman and Yavuz Yeter as general manager. The bank's largest shareholders are Emir Kaya with 54% and Salih Berberoğlu with 32%.

Political and Financial Scope

Sanctions expert Miad Maleki said the key significance is that this is the first direct US sanction against a bank operating in a NATO country under the current Iran campaign. US Ambassador to Turkey Tom Barrack emphasized that the decision is not aimed at Turkey or the Turkish banking system. Barrack said the sanction targets the activities of a single institution and that interpreting it as a judgment on Turkey would be a mistake. The move increases secondary sanction risk for Turkish companies and banks trading with Iran.