Turkey Revokes License of Iranian Bank Mellat's Istanbul Branch

Turkey's banking regulator has revoked the operating license of Iranian Bank Mellat's Istanbul branch, a decision published in the country's Official Gazette on Saturday. The Banking Regulation and Supervision Agency (BDDK) issued the notice, which cited a provision of Turkey's banking law allowing license revocation if a bank's continued operation poses a risk to depositors' rights or to the security and stability of the financial system. The official notice did not specify a reason for the decision or mention U.S. pressure. However, the action occurs amid increased U.S. efforts to enforce sanctions against Iran and encourage other countries to tighten economic restrictions on Tehran. Earlier in September 2026, the U.S. Treasury Department imposed sanctions on Turkish bank Golden Global and two subsidiaries over alleged ties to Iran's Islamic Revolutionary Guard Corps (IRGC). Bank Mellat, a Tehran-based lender, has been subject to Western sanctions for years over alleged ties to Iran's nuclear program and the IRGC. The bank was hit by U.S. and Gulf sanctions in 2019 after being named among entities linked to the Revolutionary Guards.