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    "headline": "US Sanctions Turkish Bank Golden Global for Iran Oil Revenue Transfer",
    "dek": "The US Treasury sanctioned a small Turkish bank for facilitating Iran's oil revenue transfers to Turkey.",
    "prose": "The US Treasury Department announced sanctions on the Golden Global Investment Bank, a Turkish firm with a capital of about $34 million, as part of 'Operation Economic Outcast'. [^1]\n\nThe US Treasury Department sanctioned Golden Global Investment Bank and two subsidiaries, Golden Global Portfolio Management and Golden Global Asset Leasing, for alleged involvement in Iran-related financial transactions. [^2]\n\nThe US Treasury alleged that the bank was established to enable Iran's leadership network to transfer oil revenues from China to Turkey for conversion to cash and gold. [^3]\n\nThe US Treasury alleged that the Golden Global Bank facilitated tens of millions of dollars' worth of transactions for the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF). [^4]\n\nThe US Treasury stated that the Golden Global Bank provided Iran with key correspondent banking access that allows it to move its funds internationally. [^5]\n\nThe sanctioned entities face severe restrictions regarding transactions connected to the US financial system. [^6]\n\nThe sanctioned entities were added to the US Treasury's Specially Designated Nationals (SDN) list. [^7]\n\nThe US government alleges that the entities facilitated illegal financial transactions between China and the Iranian Revolutionary Guards' Quds Force. [^8]",
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