ANKARA: Turkiye’s ‌BDDK banking watchdog revoked the operating license of Iranian lender Mellat Bank’s branch ​in Istanbul, according to a notice published in the Official Gazette on Saturday, as the US presses other countries to increase economic pressure on Tehran.

“It has been decided ‌to revoke ‌the operating license ​of ‌Bank Mellat, ⁠Head ​Office in ⁠Tehran, Istanbul Turkiye Central Branch,” the notice said, without citing the US measures or any operational issues.

It said the decision was taken under a ⁠clause of Turkiye’s banking law, ‌which allows ‌a bank’s license to ​be revoked ‌or withdrawn if its continued operation ‌is deemed to pose a risk to depositors’ rights or the security and stability of the financial system.

Earlier ‌this month, the US Treasury Department imposed sanctions on ⁠a ⁠small Turkish investment bank and two subsidiaries. The Treasury also said Turkiye and Oman had decided to stop flights by Iranian airlines Mahan Air to their countries as a result of discussions held with both countries on complying with US ​measures against ​Iran.