Turkey revokes licence of Iran's Bank Mellat as US sanctions intensify
Middle East Eye
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Middle East Eye
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Turkey's banking regulator has revoked the operating licence of Iran's Bank Mellat in Istanbul after 44 years, intensifying economic pressure as Washington escalates sanctions against Tehran. The Turkish authorities cited regulatory provisions allowing licence withdrawal when operations threaten financial system stability, without explicitly linking the decision to US sanctions.
Turkey has revoked the operating licence of Iran’s Bank Mellat, which remains on the US Treasury’s sanctions list, as Washington intensifies economic pressure on Tehran.
Turkey’s Banking Regulation and Supervision Agency’s decision to revoke the bank’s main Istanbul branch’s licence after 44 years did not directly link the move to US sanctions, Al Jazeera reported.
The agency cited a provision allowing a licence to be withdrawn if continued operations pose a risk to depositors’ rights or the stability of the financial system.
Washington designated the bank in 2018, accusing it of providing financial support to Mehr Eqtesad Bank, which the US links to Iran’s Basij.
Turkey’s Banking Regulation and Supervision Agency’s decision to revoke the bank’s main Istanbul branch’s licence after 44 years did not directly link the move to US sanctions, Al Jazeera reported.
The agency cited a provision allowing a licence to be withdrawn if continued operations pose a risk to depositors’ rights or the stability of the financial system.
Washington designated the bank in 2018, accusing it of providing financial support to Mehr Eqtesad Bank, which the US links to Iran’s Basij.
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Tags:#تركيا#العقوبات الأمريكية#إيران#بنك ملت#القطاع المالي#الضغط الاقتصادي
Source: Middle East Eye
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