US Sanctions Turkish Bank Over Iran Trade
The US Treasury Department imposed sanctions on a Turkish investment bank and two subsidiaries for facilitating trade between China and Iran. The bank strongly rejected the allegations and stated it will pursue legal rights.
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The United States Treasury Department imposed sanctions on a small Turkey investment bank and two subsidiaries on Friday, targeting networks facilitating trade with Iran's military. The move marks the first time a bank in a NATO ally has been hit under the current U.S. financial pressure campaign. Washington aims to force Tehran back to negotiations as military strikes and a naval blockade of the Strait of Hormuz continue.
