Turkey revokes the operating licence of Iran’s Bank Mellat for its main Istanbul branch, according to multiple reports. The Banking Regulation and Supervision Agency makes the decision after the branch has operated for decades, ending 44 years of activity, with the bank remaining on the US Treasury’s sanctions list.
The regulator does not, in some accounts, explicitly link the move to US sanctions. Instead, it cites a legal provision allowing licences to be withdrawn if continuing operations are seen to pose risks to depositors’ rights or broader financial-system stability. Other reporting frames the action within the context of Washington increasing economic pressure on Tehran.
Bank Mellat has faced years of Western sanctions over alleged links to Iran’s nuclear programme. The United States designated it in 2018, accusing it of providing financial support to Mehr Eqtesad Bank, which the US associates with Iran’s Basij. Some outlets also note that US sanctions actions have extended to other Turkish financial entities, underscoring the broader regional sanctions environment.
