Sen. Rick Scott (R-FL) declared Monday that Turkey is “not our friend,” after the Treasury Department sanctioned a Turkish bank accused of laundering money for Iran’s Islamic Revolutionary Guard Corps-Quds Force (IRGC-QF).
Scott made the accusation while reposting Treasury’s announcement on X. “Turkey is NOT OUR FRIEND. Just this past week, @SecScottBessent had to crack down on them for actively funding Iranian terrorists who are killing our servicemen and women,” he wrote. “This is about keeping our country and our families safe. We cannot rest until anyone with ties to the evil Iranian regime is held accountable—no matter who they are.”
The sanctions target Golden Global Bank, based in Turkey, along with two of its subsidiaries: Golden Global Varlik Kiralama Anonim Sirketi and Golden Global Portfoy Yonetimi Anonim Sirketi. Treasury’s Office of Foreign Assets Control says the bank handled tens of millions of dollars in transactions for the IRGC-Quds Force and gave Iranian financial institutions correspondent banking services that let Tehran move money internationally.
According to Treasury, Golden Global Bank was set up specifically to help Iran shift oil revenue out of China and into Turkey, where it could be converted into cash and gold. The bank is also accused of processing transactions through accounts tied to the IRGC-Quds Force and its proxies—including accounts linked to Turkish businessman Sitki Ayan, whose network the U.S. sanctioned back in 2022 over allegations it moved hundreds of millions of dollars from IRGC-Quds Force oil sales.
The action is part of Operation Economic Outcast, a Treasury campaign Secretary Scott Bessent launched on August 24 to choke off the banks, financial networks, oil revenue and sanctions-evasion schemes that fund the Iranian regime and its terrorist proxies.
“Financial institutions continue to find out the hard way that we are serious about Operation Economic Outcast,” Bessent said. “While we hope no more banks will need to be sanctioned, that ultimately depends on how quickly the international community comes to its senses and ceases support of the murderous Iranian regime. We know who you are, we know where you are, and we will continue to take action together with our allies and partners until we have buried the head of the Iranian snake.”
The sanctions were issued under an executive order targeting Iran’s economy. They freeze any U.S.-held or American-controlled property belonging to the designated entities and generally bar U.S. persons from doing business with them.
