Turkey revokes Bank Mellat license

The Turkish Banking Regulation and Supervision Agency has revoked the license of the Iranian Mellat Bank branch in Istanbul, without explicitly stating the reasons. This move comes amid American pressure on Iran and statements emphasizing the stability of the financial system. The decision was made based on a Turkish law that allows licenses of banks posing a risk to depositors' rights or financial stability to be revoked. It follows the United States' imposition of sanctions on a Turkish investment bank and its affiliated companies, as well as the suspension of Mahan Air flights between Turkey and Oman due to compliance with U.S. sanctions on Iran.

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