Washington DC [US], September 5 (ANI): The United States, in its latest efforts of economic sanctions under Operation Economic Outcast, on Friday (local time) imposed fresh sanctions on a Trkiye-based financial institution and two of its subsidiaries, accusing them of facilitating transactions linked to Iran's Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and providing the Iranian regime with access to international correspondent banking services.

The US Department of the Treasury said the action, taken under its 'Operation Economic Outcast', targets Golden Global Yatirim Bankasi Anonim Sirketi, also known as Golden Global Bank, along with its Trkiye-based subsidiaries Golden Global Varlik Kiralama Anonim Sirketi and Golden Global Portfoy Yonetimi Anonim Sirketi.

'Today, as part of Operation Economic Outcast, Treasury severed the Iranian regime's critical financial lifelines in Trkiye,' the Treasury Department said in a post on X.

According to the department, Golden Global Bank facilitated tens of millions of dollars' worth of transactions for the IRGC-QF and provided the Iranian regime with key correspondent banking access, allowing it to move funds internationally.

US Treasury Secretary Scott Bessent said the latest action sends a warning to financial institutions continuing to facilitate business with Iran.

'Financial institutions continue to find out the hard way that we are serious about Operation Economic Outcast,' Bessent said in a post on X.

'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,' he added.

Bessent further warned that the US would continue working with its allies and partners to target entities supporting Iran's financial networks.

'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,' he said.

The Treasury Department said Golden Global Bank was established to enable Iran's 'rahbar network' to transfer oil revenues from China to Trkiye, where the funds could subsequently be converted into cash and gold through money exchangers.