Turkey revokes operating license of Iran's Mellat Bank amid US economic pressure campaign
Earlier this month, the US Treasury Department imposed sanctions on a small Turkish investment bank and two subsidiaries.
Turkey's central bank has revoked the operating license of Iran's Mellat Bank's Istanbul branch, according to a notice in the Official Gazette. This move comes as the United States urges other nations to intensify economic pressure on Tehran. The decision was reportedly taken under a provision in Turkey's banking law, which permits the withdrawal of a bank's license if its operations pose a risk to depositors' rights or the stability of the financial system. The notice did not specify any operational issues or reference the US measures.
Earlier this month, the US Treasury Department sanctioned a small Turkish investment bank and two of its subsidiaries. Additionally, Turkey and Oman announced they would cease Iranian airline Mahan Air's flights to their countries following consultations with both nations about adhering to US measures against Iran.
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