US Sanctions Turkish Bank Over Alleged Iran Ties, Bank Threatens Legal Action

The United States has imposed sanctions on a Turkish bank, accusing it of facilitating millions of dollars in transactions connected to Iran's Islamic Revolutionary Guard Corps (IRGC), according to a report by Al Jazeera published on September 5, 2026.

US authorities allege the bank played a role in helping move funds tied to the IRGC, an organization Washington has long designated as a driver of activities it considers destabilizing in the region, the report said.

In response to the sanctions, the bank has indicated it plans to pursue a legal challenge, according to the report, though further details of the anticipated action were not immediately available.

The move adds to a series of US sanctions actions targeting financial institutions and entities accused of aiding Iran in circumventing existing restrictions. Al Jazeera's report did not specify the exact monetary value of the transactions in question or identify additional entities implicated in the case.

Neither the US Treasury Department nor the bank issued statements beyond what was cited in the original report at the time of publication.