Turkey revokes Mellat Bank’s license amid US pressure on Iran

Photo: Gonzalo Facello / Pexels Turkey has revoked the operating license of Iran’s Mellat Bank in response to broader U.S. efforts to clamp down on Iran’s financial activities. The decision by Turkey’s banking regulator, the BDDK, ends Mellat Bank’s operations in Istanbul, where it has been active for decades. This move aligns with the U.S. campaign to increase pressure on Iran’s financial sector, targeting entities helping move funds for Tehran. The development indicates Turkey’s closer alignment with U.S. sanctions and might reflect broader geopolitical shifts in the region. Key Takeaways The revocation of Mellat Bank’s license by Turkey suggests an alignment with U.S. measures aimed at increasing pressure on Iran’s financial sector. This action may indicate heightened geopolitical tension and economic isolation for Iran, consistent with increased instability. Market pricing suggests a potential increase in the perceived likelihood of political repercussions within Iran, affecting leadership scenarios. What to Watch Observers should monitor any responses from Iran’s leadership, particularly from President Masoud Pezeshkian, as well as any statements from key Iranian institutions ...