Mellat Bank Faces License Revocation in Türkiye Amid US Measures

Turkey’s banking watchdog, the BDDK, revoked the operating license of Iranian lender Mellat Bank’s Istanbul branch, according to a notice published in the Official Gazette on Saturday, as the United States continues pushing other countries to tighten economic pressure on Tehran.

The notice confirmed the decision to revoke the operating license of the Istanbul central branch of Bank Mellat’s Tehran-based head office, without citing US sanctions measures or any specific operational problems at the bank. It said the move was made under a provision of Turkish banking law that allows a bank’s license to be revoked or withdrawn if its continued operation is judged to pose a risk to depositors’ rights or to the broader security and stability of the financial system.

The decision follows a series of recent US actions targeting Iran’s financial network. Earlier this month, the US Treasury Department imposed sanctions on a small Turkish investment bank and two of its subsidiaries. The Treasury also said Turkey and Oman had agreed to stop flights by Iranian carrier Mahan Air into their countries, a step it attributed to discussions held with both governments over compliance with US measures against Iran.

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