Turkey revokes Bank Melli license and halts Mahan Air flights

The Turkish Banking Regulation and Supervision Agency has revoked the license of the Istanbul branch of Iran’s Bank Melli. The decision, published in the Turkish Official Gazette, cites banking laws regarding the protection of depositor rights and the stability of the financial system, though it does not explicitly mention US sanctions.

In a parallel development, the Iranian airline Mahan Air has suspended its flights to and from Istanbul and Ankara, effective September 21, following notifications from Turkish authorities. Mahan Air has long been under US sanctions due to allegations of supporting the Iranian Revolutionary Guard Corps’ Quds Force.

These actions follow increased pressure from the United States to tighten financial and economic isolation on Tehran. Recent US Treasury moves have also targeted other entities, including Golden Global Investment Bank in Turkey and branches of Banque Misr in the United Arab Emirates, as part of an effort to prevent the circumvention of international restrictions.