# Office of Foreign Assets Control

Type: Company

Source: GetYourBrief — https://getyourbrief.com/entity/office-of-foreign-assets-control
Canonical HTML page: https://getyourbrief.com/entity/office-of-foreign-assets-control

## Timeline

- **2026-09-04**: OFAC sanctions Golden Global Bank and two subsidiaries — The US Treasury designates Golden Global Investment Bank, Golden Global Portfolio, and Golden Global Varlik under Operation Economic Outcast, places them on the SDN list, and issues a wind-down general license.
- **2026-08-24T14:00:00-04:00**: Bessent press conference scheduled — Treasury Secretary Scott Bessent is due to detail the new Iran sanctions package at 2 p.m. EDT (1800 GMT).
- **2026-08-22**: Trump vows to hit Iran hard economically — Following Bessent's pledge of 'never been seen' measures, Trump reiterates maximum economic pressure; Reuters reports the story.
- **2026-07-31**: Trump chairs Camp David cabinet meeting — President Trump participates in a cabinet meeting at Camp David, Maryland, as the Iran pressure campaign intensifies.
- **2026-02**: Iran war begins — Conflict starts in February, prompting Washington to levy additional maritime, energy and financial sanctions and launch a naval blockade.
- **1979**: Sanctions regime begins — The US, UN and EU begin applying sanctions, trade embargoes and asset freezes on Iran over its nuclear program, human rights record and support for militant groups.

## Recent coverage (5 stories, network-wide)

### US Sanctions Turkish Bank and 2 Units Under Operation Economic Outcast
2026-09-05 12:58:03 · Sector: legal · Sentiment: Negative · Impact: 8/10 · Sources: 2

The Treasury's SDN designation of Golden Global Bank and two subsidiaries signals heightened OFAC enforcement under Operation Economic Outcast. Sanctions lawyers and compliance officers must assess correspondent banking exposure, wind-down licensing, and secondary sanctions risk. The bank's denial and threat of legal action preview potential challenges to designation.
Full story: https://getlegalbrief.com/story/us-sanctions-golden-global-bank-legal-compliance

### Turkish Bank Loses USD Access as US Sanctions 3 Golden Global Entities
2026-09-05 12:57:52 · Sector: finance · Sentiment: Negative · Impact: 8/10 · Sources: 2

OFAC's designation of Golden Global Bank and two units removes them from the US dollar system, freezing assets and cutting correspondent banking access. Markets should watch for secondary risk to Turkish banks with Iran exposure and potential de-risking. The general wind-down license offers a narrow window to exit positions.
Full story: https://getfinancebrief.com/story/golden-global-bank-ofac-sanctions-dollar-access

### Hormuz oil at standstill as US targets 1,000+ vessels and insurers
2026-08-23 02:58:38 · Sector: supply · Sentiment: Negative · Impact: 6/10 · Sources: 2

Washington's 'never been seen' sanctions push is freezing the Strait of Hormuz, hitting shipping insurers and China's teapot refiners. Freight, insurance and fuel costs face sharp repricing as secondary sanctions loom.
Full story: https://getsupplybrief.com/story/hormuz-oil-standstill-iran-sanctions-supply-chain

### $500B in Iran-linked crypto frozen as US tees up 'unseen' sanctions
2026-08-23 02:58:28 · Sector: finance · Sentiment: Negative · Impact: 6/10 · Sources: 2

Treasury's Scott Bessent promises 'never been seen' Iran measures after OFAC froze an estimated $500B in Iran-linked crypto and designated 1,000+ entities, adding a fresh risk premium to oil and emerging-market assets.
Full story: https://getfinancebrief.com/story/iran-sanctions-500b-crypto-freeze-markets

### 80% of Iran's oil flows to China as US sanctions squeeze global supply
2026-08-23 02:58:11 · Sector: climate · Sentiment: Negative · Impact: 6/10 · Sources: 2

US 'never been seen' sanctions threaten the 80% of Iran's shipped crude that flows to Chinese teapot refiners, tightening global energy supply and raising fuel-price and energy-security risks.
Full story: https://getclimatebrief.com/story/iran-oil-sanctions-china-energy-market

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This page is a machine-readable summary. Sentiment measures the directional read of each development for this entity, not the tone of the reporting; impact weights consequence, not syndication reach. See https://getyourbrief.com/guides/methodology for the full editorial methodology.