Treasury Severs Iranian Regime’s Financial Lifelines in Türkiye (Press Statement)

Date issued: Sep. 04 2026

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TURBOFAC Commentary (71 words)

Notes:

1) Rare designation of a third-country financial institution for dealings involving Iran, but the allegations contained in the press release suggest that this is less of a pure secondary sanctions action and more of an "evasion" designation. Note that the bank was established in 2020 and is relatively small in terms of AUM (https://www.reuters.com/world/middle-east/us-targets-turkish-entities-with-iran-related-sanctions-2026-09-04/).