Türkiye’s Banking Regulation and Supervision Agency (BDDK) has revoked the banking license of Iranian bank Mellat and its Istanbul branch, according to a statement published on the regulator’s website.
The decision was made under Article 71 of Türkiye’s Banking Law, which allows authorities to revoke or cancel a bank’s license if its continued operations pose a risk to depositors or the country’s financial system, according to the statement.
The move comes amid U.S. demands for other countries to tighten economic measures against Iran.
A day earlier, U.S. President Donald Trump signed legislation extending sanctions against Tehran through 2031.
By Tamilla Hasanova
