BREAKING NEWS

Iran's Bank Mellat says Turkish banks cut links

By REUTERS

MAY 18, 2011 17:59

ANKARA - Iran's Bank Mellat is currently unable to operate in Turkey as all Turkish banks have cut links with it due to US pressure, the head of the bank's Turkish unit, Younes Hormozi, said on Wednesday.

The US Treasury department's top financial intelligence official said earlier this month that Turkish banks which persist in dealing with local branches of the blacklisted bank were risking US sanctions.

Hormozi said in a telephone interview with Reuters that Bank Mellat's activities until now had been legal and it did not plan to exit the Turkish market.

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