US Treasury Sanctions 3 Turkish Entities over Iran Links, Issues Winding-Down License

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued a new general license permitting the gradual winding down of transactions with several individuals and entities added to the Iran-related sanctions list on September 4.

According to OFAC's updated Sanctions List, three interconnected Turkish entities were designated under Executive Order 13902, which targets key sectors of the Iranian economy. The designated firms include Golden Globe Investment Bank, located in Istanbul’s Esentepe district, alongside two affiliated entities based in the Şişli district: Golden Globe Portfolio Management and Golden Globe Asset Leasing.