⚡️🇹🇷🇮🇷🇺🇸 — Türkiye's Banking Regulation and Supervision Agency has revoked the operating license of Iran-based Bank Mellat's Istanbul branch, ending its lending activities in the country after more than four decades, as U.S. sanctions targeting Tehran's financial networks intensify, according to Türkiye Today.

➡️ The regulator cited concerns that the bank's continued operations could pose risks to depositors and financial stability, triggering action under Türkiye's Banking Law. Bank Mellat is one of Iran's major financial institutions with about $34.8 billion in total assets as of March 2026, and has faced sanctions from the U.S., EU, and U.K. over alleged links to Iran's nuclear and missile programs. The U.S. Treasury first designated it in October 2007.

➡️ The bank has maintained a presence in Türkiye since the early 1980s, starting with Istanbul and later expanding to Izmir and Ankara. At the end of 2025, the Türkiye operation had €41 million in total assets and employed 39 people.

➡️ The move adds to Türkiye's recent steps following tightened U.S. sanctions under Operation Economic Outcast, which began in late August to cut off Iran's remaining financial lifelines. On Wednesday, the BRSA gave the Savings Deposit Insurance Fund control of stakes held by Golden Global Investment Bank's three main shareholders, less than two weeks after the bank and two subsidiaries were sanctioned by the U.S. over alleged Iran ties.

➡️ Washington also expanded sanctions against Iran's aviation sector on September 8, targeting 36 entities, including 27 Iranian airlines and several companies in Türkiye accused of supporting Mahan Air. Mahan Air subsequently suspended flights to Istanbul and Ankara from September 21.

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