Turkey has annulled the operating license of the Iranian bank Mellat, which remains on the sanctions list of the U.S. Department of the Treasury, as Washington increases economic pressure on Tehran.
According to Al Jazeera, the decision by Turkey's Banking Regulation and Supervision Agency to revoke the license of the bank's main branch in Istanbul after 44 years was not directly related to U.S. sanctions.
The agency cited a clause that permits license revocation if ongoing activities pose a threat to depositors' rights or the stability of the financial system.
The U.S. included this bank on its list in 2018, accusing it of providing financial support to Mehr Eqtesad Bank, which the U.S. believes is linked to Iran's Basij.