OFAC further targets Iran's financial sector

OFAC imposed blocking sanctions on three entities (in Turkey) under its Iran sanctions program (E.O. 13902), as part of Operation Economic Outcast, targeting Iran's financial sector and providing correspondent banking access that enabled the Iranian government and the IRGC-Qods Force to move funds internationally. The designations target Golden Global Yatirim Bankasi Anonim Sirketi (Golden Global Bank) for knowingly facilitating significant financial-sector transactions for Iran and for enabling transfers tied to the Sıtkı Ayan network, along with its two subsidiaries, Golden Global Varlik Kiralama Anonim Sirketi and Golden Global Portfoy Yonetimi Anonim Sirketi. OFAC concurrently issued Iran General License CC, authorizing wind-down of transactions involving persons blocked in this action.