
September 5th, 2026
The Trump administration put sanctions on a Turkish bank.
The bank is Golden Global Yatirim Bankasi Anonim Sirketi.
The U.S. called it a "critical financial lifeline" for Iran.
This action is part of a new U.S. effort.
The effort is called "Operation Economic Outcast."
It wants to separate Iran from its trading partners.
Treasury Secretary Scott Bessent started this operation last week.
The Treasury Department said the bank was in Istanbul.
The bank was set up to help Iran move oil money from China to Turkey.
In Turkey, the money could be turned into cash and gold.
The bank also gave services to Iranian financial groups.
Some of these groups were sanctioned by the U.S. in 2022.
Bessent said banks tied to Iran "will continue to find out the hard way that we are serious."
He said more sanctions depend on whether other countries stop supporting the "murderous Iranian regime."
But the bigger plan to force Iran's trading partners to stop working with it has not worked much so far.
The U.S. has not punished big partners like China and India.
Instead, it has given warnings and talked with them.
The sanctions came one day after Turkey's state bank, Halkbank, settled a U.S. case.
The case lasted nine years and was about Iran sanctions violations.
In that case, officials moved about $20 billion in Iranian oil money.
The U.S. also started military strikes on Iran again recently.
But it is not clear if this two-part plan will work.
September 5th, 2026

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