US Sanctions Turkish Bank Over Iran Oil-Gold Transfers, Escalating Pressure

The US Treasury Department has imposed sanctions on Istanbul-based Golden Global Yatirim Bankasi and two affiliates, alleging they enabled Iran's shadow banking network to transfer oil revenues from China to Turkey, converting them into cash and gold. This action cuts the entities off from the dollar-based financial system, marking an escalation in the Trump administration's economic pressure campaign against Tehran. US Treasury Secretary Scott Bessent indicated further weekly sanctions are likely, targeting financial institutions globally. This ongoing geopolitical tension and its direct link to gold transactions could support international gold prices and potentially influence safe-haven demand for the metal in Pakistan.

بحوالہ / Source: www.brecorder.com