[REVISION HISTORY]

Sanctions on Iranian financial institutions

Updated 1 time since CLSTR started tracking revisions of this situation.

What changed

2026-09-24 05:12 UTC → 2026-09-24 07:27 UTC · added ~~removed~~

Financial institutions linked to Iran are facing increased regulatory restrictions in the Middle East and neighboring regions. In Turkey, the Banking Regulation and Supervision Agency (BDDK) revoked the operating license of the Istanbul main branch of Bank Mellat. The regulator stated the move was necessary because the bank’s operations posed a risk to the “stability and security of the financial system.” While not explicitly citing sanctions, the bank has faced long-standing restrictions from the United States, the European Union, and the United Kingdom. Similarly, the Central Bank of the United Arab Emirates has ~~largely prohibited~~ imposed strict enforcement measures against Bank Melli ~~from conducting business within the country. The ban prevents~~ Iran. Under Article 168-1-C of Federal Law No. 6 of 2025, the bank is prohibited from ~~processing~~ conducting any financial transactions to or from Iran, ~~including~~ encompassing both regular fund transfers and trade financing. ~~Authorities cited~~ These regulatory actions follow inspections that revealed violations ~~of laws~~ regarding ~~money~~ anti-money laundering, terrorism financing, and ~~the~~ proliferation ~~of weapons. These actions follow~~ financing requirements. This enforcement follows a previous UAE ~~ruling~~ decision in August to suspend all trade and financial transactions with ~~Tehran.~~ Tehran due to regional tensions. US Treasury Secretary Scott Bessent noted that pressure on Iran is being increased to “unprecedented levels” as the United States seeks the economic isolation of the Islamic Republic through various sanctions and secondary measures.

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