Turkey Revokes Operating License of Iran's Mellat Bank Amid US Economic Pressure Campaign
The move follows U.S. sanctions pressure on Iran and comes after Turkey’s banking watchdog said continued operation could threaten financial stability.
- On Saturday, the Banking Regulation and Supervision Agency revoked the operating license of Iranian lender Bank Mellat's Istanbul Turkey Central Branch, citing risks to depositors' rights and financial stability.
- Bank Mellat previously faced Western sanctions over Tehran's nuclear program, which were lifted in the 2015 deal before the United States reimposed them; the bank was designated among 25 entities linked to the Islamic Revolutionary Guard Corps .
- Earlier this month, The Treasury Department sanctioned Golden Global Yatirim Bankasi Anonim Sirketi , accusing the entity of facilitating transactions for the Islamic Revolutionary Guard Corps-Qods Force, which Golden Global Bank denied.
- Following discussions on complying with United States measures, Turkey and Oman decided to stop flights by Iranian airline Mahan Air to their countries, reflecting efforts to increase economic pressure on Tehran.
- The Official Gazette notice regarding Bank Mellat did not cite the United States measures, stating only that the decision was taken under Turkish banking law to protect the financial system.
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60 Articles
Turkey revoked on Saturday 19 September the license of Iranian bank Mellat, a semi-private entity that has been subject to Western sanctions for years. This new blow to Tehran's banking system is part of a series of recent measures taken by Ankara against Iranian interests, against the background of growing US pressure. These decisions also coincide with the displacement of Turkish President Recep Tayyip Erdogan to the United States, on the occa…
Oleg Tsarev: Turkey has revoked the license of the local branch of the state-owned Iranian bank Mellat, which has been operating in the country for 44 years
Turkey has revoked the license of the local branch of the state-owned Iranian bank Mellat, which has been operating in the country for 44 years. The decision of the Turkish regulator is related to fears of secondary sanctions from the United...
The Turkish Banking Regulatory and Control Authority cancelled the licence of the Iranian branch of the Bank of Melt in Istanbul, a step in the midst of increasing United States pressure on Tehran and its financial networks.
(Rome=Yonhap News) Correspondent Min Kyung-rak = Turkey has revoked the operating license of Bank Mellat, one of Iran's major private banks, AFP reported on the 19th (local time)...
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