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68FINANCE

US sanctions Turkish bank network over alleged financing for Iran's IRGC

⚡ Markets: Increases compliance risk for financial institutions dealing with Turkey and could strain US-Turkey relations. Negative for the specific bank and potentially the Turkish lira if seen as a broader risk.USD/TRY

The U.S. Treasury Department has imposed sanctions on a Turkey-based bank and its subsidiaries, accusing the network of facilitating tens of millions of dollars in financial transfers for Iran's Islamic Revolutionary Guard Corps (IRGC). The move targets a key financial node allegedly used by Iran to evade international sanctions.

West MSM: noneWest Right 1Regional 23 countries
3 sources across the spectrum
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