STATEMENT OF THE AMBASSADOR
On the U.S. Treasury Designation of September 4, 2026
Today the United States Department of the Treasury designated a single Türkiye-based financial institution and two of its subsidiaries for their role in moving funds on behalf of the Iranian Revolutionary Guard Corps–Qods Force. We want to place this measure in its proper context, because context is everything, and because the relationship between the United States and the Republic of Türkiye is far larger than any one institution or any one day. Throughout this process, Treasury and its Turkish counterparts have been in direct and continuous contact.
The action is what a great power owes to the integrity of the international financial system. Washington’s maximum-pressure campaign against the Iranian regime depends upon closing, one by one, the channels through which Tehran launders the proceeds of its activities. This designation is aimed at the conduct of one entity, not at a nation, not at a banking system, and not at an ally. It is enforcement, precise and lawful, and the United States makes no apology for protecting the architecture on which honest commerce everywhere depends.
It would be a serious error, here or in Ankara, to read this narrow measure as a judgment upon Türkiye. It is nothing of the kind. Türkiye’s own interest lies in a banking system that is clean, trusted, and beyond the reach of those who would abuse it, and no nation has a greater stake than Türkiye itself in ensuring that its institutions are not turned to purposes their own government would never sanction. The health of the Turkish financial system is not in question; the conduct of one institution was.
For that reason we note with respect that Türkiye has moved as a sovereign partner should. Rather than treat an uncomfortable disclosure as an affront, the Turkish authorities have engaged to clarify the ambiguities surrounding this matter and to inaugurate a process that will strengthen transparency going forward. That is not the reflex of a state with something to conceal; it is the conduct of a mature partner determined that its own house be, and be seen to be, in order. Cooperation of this kind is worth more to the alliance than any assurance offered under pressure, because it is offered freely.
Allies of long standing do not measure their friendship by the absence of difficulty. Between serious partners, friction is not the exception to the relationship but a recurring feature of it, and the test is never whether a difficult matter arises but whether it is met with candor and resolved with dignity. The stability of the region, and the security of the routes and commerce on which both our peoples rely, the United States and Türkiye stand on the same side, as they have through harder trials than this.
We are confident, therefore, that this measure will in time be seen not as a strain upon the partnership but as an instance of its strength: an American action taken after great deliberation, a Turkish response to address with timely and proper investigation, and a shared commitment to transparency that leaves both our nations, and the alliance between them, stronger than before. We will continue this work together, in the same spirit of candor and common purpose that has carried the relationship this far.