US sanctions Turkish bank as pressure on Iran intensifies

The United States has sanctioned a Turkish bank as Washington intensifies economic pressure on Iran. The US Treasury Department accused Golden Global and its subsidiaries of helping Iran transfer oil revenues from China to Turkey. The bank says it has complied with local and international banking rules. The sanctions are part of the Trump administration’s so-called “Operation Economic Outcast”, aimed at increasing pressure on Iran’s economy. But how effective can tougher sanctions be? Gulf State Analytics CEO Giorgio Cafiero says the measures could worsen conditions for ordinary Iranians with…

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