The Trump administration is turning up the economic pressure on Iran, this time targeting a foreign bank that U.S. officials accuse of serving as a crucial conduit for money flowing back to Tehran.
The Treasury Department announced sanctions Friday against Golden Global Bank, an Istanbul-based financial institution accused of helping Iran transfer proceeds from oil sold to China through an elaborate network designed to evade international restrictions.
According to U.S. officials, those transactions ultimately provided financial support to Iran’s Islamic Revolutionary Guard Corps and its Quds Force.
