Sen. Rick Scott Critiques Turkey After Sanctions on Turkish Bank

On Monday, Senator Rick Scott (R-FL) stated that Turkey is “not our friend” following the Treasury Department’s sanctions against a Turkish bank reportedly aiding Iran in transferring funds. This comment came as he shared the Treasury’s announcement on social media.

The Treasury accused Golden Global Bank and its subsidiaries of managing substantial sums—tens of millions of dollars—for Iran’s Islamic Revolutionary Guard Corps-Quds Force (IRGC-QF). Scott emphasized the grave implications of this situation. “Turkey is NOT OUR FRIEND. Just this past week, @SecScottBessent had to crack down on them for actively funding Iranian terrorists who are killing our servicemen and women,” he articulated. “This is about keeping our country and our families safe. We cannot rest until anyone with ties to the evil Iranian regime is held accountable—no matter who they are.”

The Treasury’s sanctions were issued as part of an initiative known as Operation Economic Outcast, which aims to sever financial avenues for the Iranian government. According to the Office of Foreign Assets Control, Golden Global Bank played a significant role in facilitating these financial transactions.

Additionally, the Treasury accused the bank of providing correspondent banking services to Iranian entities, thus enabling Iran to conduct international financial transactions. “Financial institutions continue to find out the hard way that we are serious about Operation Economic Outcast,” remarked Bessent during the announcement.

He added, “While we hope no more banks will need to be sanctioned, that ultimately depends on how quickly the international community comes to its senses and ceases support of the murderous Iranian regime. We know who you are, we know where you are, and we will continue to take action together with our allies and partners until we have buried the head of the Iranian snake.”

The Treasury’s findings indicate that Golden Global Bank was originally created to assist Iran in moving oil revenue from China to Turkey, where the funds could be converted into cash and gold. The bank was also alleged to have facilitated transactions through accounts managed by the IRGC-QF and its affiliates.

Among the accounts targeted were those linked to Turkish businessman Sitki Ayan and associated companies. Ayan’s network faced U.S. sanctions in 2022 due to accusations related to oil sales connected to the IRGC-QF.

Sanctions were applied to Golden Global Bank under an executive order focused on Iran’s economic resources, impacting its two subsidiaries as well. These sanctions freeze any assets held in the United States or controlled by American individuals, effectively instituting a general prohibition on transactions involving these designated entities.

Operation Economic Outcast, which Bessent announced on August 24, specifically aims at disrupting Iranian banks, financial networks, and the illegal methods the Iranian government employs to finance its operations and terrorist activities.