Bank Mellat

Treasury Department said that it has continued raising the issue directly with senior Turkish officials, and has warned Turkish companies and Turkish financial institutions about their potential sanctions exposure.

Following Treasury's productive engagements with senior Turkish authorities last month, which quickly translated into tangible results that included the cancellation of Mahan Air flights, the revocation of Bank Mellat's license, we have continued discussions regarding Turkey's aviation links to Iran and the sanctions exposure Turkish financial institutions and businesses are facing for facilitating these flights.

That's coming from our Treasury Department.

We've made those risks clear and continue to address these issues at senior levels with the Turkish government.

Seven companies managing a hundred and thirty-one funds with seventeen billion dollars in assets were placed into liquidation.

Two days later, Turkey's banking regulator quietly revokes the license of Iran's Bank Mellat, one of the largest Iranian banks operating in Turkey for forty-four years.

No press conference, no announcement, just a line in the official gazette.

The same week, Turkey grounded Iran's Mahan Air.

It targeted a...

the Iranian airlines not to be going through Turkey anymore and now targeted the Turkish bank, Bank Melat.

Well, Turkey has revoked the license of one of Iran's big banks that was operating in Turkey.

It's an Iranian bank.