Ankara: The US ambassador in Ankara has confirmed that the recent sanctioning of a Turkish financial institution for transferring funds to the Iranian Revolutionary Guard is not an indication of targeting Turkey. US Ambassador to Ankara, Tom Barrack, emphasized that the US Treasury’s designation of this institution and its subsidiaries is an isolated action that does not compromise the strong alliance between the United States and Turkey.
According to National Iraqi News Agency, Barrack clarified in a statement on the X platform that the relationship between the United States and Turkey extends beyond any single institution or incident. He highlighted that the Treasury Department and its Turkish counterparts maintained direct and continuous contact throughout the process. This action, he explained, is part of Washington’s broader commitment to safeguarding the integrity of the international financial system and is aligned with its strategy to exert maximum pressure on the Iranian regime by closing off financial channels used for laundering funds.
The ambassador stated that the sanctions are aimed at the conduct of a specific entity rather than the entire nation, banking sector, or its ally. This precise application of the law, he noted, is intended to protect the foundations of fair trade globally. He stressed that interpreting this action as targeting Turkey is a mistake, as the focus is solely on the behavior of a single institution.
Barrack praised the Turkish authorities for their response and actions, describing them as a display of maturity and a sign of transparency. He highlighted Ankara’s initiative to clarify the circumstances and enhance transparency, which, he believes, will strengthen the alliance more than any guarantee made under pressure.
The ambassador concluded by asserting that the real test of a long-standing alliance lies in addressing difficult issues with honesty and dignity. He expressed his confidence that this action will ultimately demonstrate the strength of the partnership rather than pose a threat to it. Furthermore, he noted that the US action followed lengthy deliberations, and the Turkish response was timely and appropriate.
Washington imposed sanctions on three entities based in Turkey as part of a broader campaign to increase economic pressure on Tehran and disrupt its financial networks. The U.S. Treasury Department identified the entities as Golden Global Portfolio Management, Golden Global Asset Leasing, and Golden Global Investment Bank. A general license was also issued to allow the termination of existing transactions with these sanctioned entities.
The sanctions come in response to accusations against Golden Global Bank of facilitating financial transactions linked to Iran, particularly those involving the Quds Force of the Iranian Revolutionary Guard Corps. This move is part of the Trump administration’s efforts to economically isolate Iran and target its global financial networks.