Developments in Banking and Transportation Lines Following US Sanctions on Iran
Following the US decision to impose sanctions on Turkey-based Golden Global Yatırım Bankası within the framework of Iran sanctions and the Banking Regulation and Supervision Agency (BDDK) revoking Bank Mellat's operating license, diplomatic and economic processes have accelerated.
Following the imposition of sanctions by the US on Turkey-based Golden Global Yatırım Bankası as part of sanctions against Iran, significant economic and administrative decisions were implemented successively along the Ankara-Tehran-Washington line.
Sanction Decision and Initial Statements
The US Department of the Treasury included Turkey-based Golden Global Yatırım Bankası and two of its affiliates on the sanctions list on the grounds that they carried out fund transfers on behalf of the Islamic Revolutionary Guard Corps-Quds Force. Golden Global completely rejected the accusations directed against it.
US Ambassador to Ankara Tom Barrack stated that this decision did not target Turkey or the Turkish banking system in any way, emphasizing that Washington's primary motivation was its Iran policy.
Suspension of Airline Flights
Following the economic and diplomatic developments, Iran-based Mahan Air announced that it decided to suspend its flights between Tehran and Istanbul and Ankara starting from September 21.
BDDK's Decision on Bank Mellat
The Banking Regulation and Supervision Agency (BDDK) revoked the operating license of Iran-based Bank Mellat's Turkey Central Branch in Istanbul with a board decision dated September 18, 2026.
Said decision was published in the Official Gazette on September 19 and officially entered into force, ushering in a new era for Iranian banking activities in Turkey.