US sanctions Turkish bank tied to Iran oil revenue
By The BriefBrief
The U.S. Treasury Department issued sanctions on a Turkish bank and its entities, accusing them of being set up to help Iran transfer oil revenues from China to Turkey. The Treasury said the funds could then be converted to cash and gold.
WHO:U.S. Treasury Department
WHAT:Issued sanctions on a Turkish bank and its entities over alleged facilitation of Iran oil revenue transfers from China to Turkey.
WHEN:Reported Sep 4, 2026 at 1:26 PM ET
WHERE:Turkey
WHY:The Treasury Department accused the bank and its entities of enabling Iran to transfer oil revenues from China to Turkey for conversion to cash and gold.
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