Iran18 September, 20263 min read
U.S. Treasury Presses UAE And Turkey Banks As Turkey And Oman Halt Mahan Air Flights
This article is an automated aggregation of coverage from news outlets. Our editorials offer in-depth analysis curated by the NewsCord team.
US Treasury imposes strict measures on UAE/Turkish banks aiding Mahan Air under Economic Pariah. Mahan Air suspends flights to Turkey and Oman amid US sanctions risk.
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Sanctions hit Mahan Air
The U.S. Treasury said it has begun strict measures against banks in the UAE and Turkey that support Iran's Mahan Air under its "Economic Pariah operation," with Tommy Bibot telling Al Jazeera that the department dispatched a senior envoy to engage with the UAE, Turkey, Oman, and Britain to push for swift action.
Bibot said the Treasury’s efforts have yielded results, adding that "Turkey and Oman stopping Mahan Air flights" followed meetings, and he confirmed the work with partners would continue to prevent Iran from exploiting resources to support its agenda.
The Treasury also announced on September 4 sanctions on the Turkish Gold Global Bank for suspected ties to the IRGC, and it said it cut a financial lifeline of the Iranian regime in Turkey by adding Gold Global and its subsidiaries to the sanctions list.
In the same sanctions context, the Treasury expanded sanctions on the Iranian aviation sector by listing 36 new targets, including 27 Iranian airlines and 8 foreign companies operating in aviation and cargo services, as well as an Egyptian businessman residing in the UAE.
The U.S. Treasury said it proposed in late August to prevent Bank of Egypt in the UAE from maintaining correspondent accounts with American financial institutions, estimating that Bank of Egypt in the UAE represents a vital point of access for the Iranian regime to the U.S. dollar.
Turkey suspends flights
Turkish officials told Middle East Eye that Türkiye will suspend flights operated by Iranian private carrier Mahan Air from September 21 due to concerns about exposure to US sanctions, and the suspension will apply to all Mahan Air flights to and from Iran. The decision was framed as not constituting a broader ban on Iranian airlines, while Turkish officials said Ankara would continue assessing risks tied to other Iranian airlines based on its bilateral aviation agreement with Tehran, flight safety considerations, and the possibility of further US sanctions. Middle East Eye reported that three Türkiye-based companies—S Sistem, Mes Cargo and Sky Phoenix—were sanctioned for providing services to Mahan Air, including supplying aircraft components, providing general sales services and purchasing aircraft.
A Turkish official told Middle East Eye that "The risk now extends to every Turkish entity providing services to Mahan Air, from airport operations and ground handling to ticketing and banking," adding that this could disrupt services and trigger further investigations. Mahan Air confirmed on Friday that it would suspend all flights to and from Türkiye from September 21 and also announced the suspension of services to Oman and Georgia.
Isolation and ripple effects
JNS.org said the Trump administration’s "Operation Economic Outcast" is working as Turkey and Oman announced cancellations of flights on Mahan Air, which the United States began sanctioning in 2011 for supporting the Islamic Republic.
The outlet said a U.S. Treasury Department spokesman described a senior envoy dispatched after Scott Bessent, U.S. treasury secretary, unveiled "Economic Outcast" in August, with the envoy seeking "to reinforce the U.S. strategy and seek swift action," and it said the spokesman credited the steps as delivering results.
JNS.org added that Mahan Air said it canceled its Tehran-Muscat route starting on Thursday and will suspend routes to Istanbul and Ankara beginning on Monday, with directives coming from "relevant aviation authorities" in Oman and Turkey.
The New York Times reported that Mahan Air announced it would stop flying to Turkey and Oman just over a week after new restrictions were announced, and it said the airline did not explain why in detail, saying only that it would stop flights after unspecified decisions by the Turkish and Omani aviation authorities.
The New York Times also tied the flight suspensions to Iran’s broader isolation, describing a naval blockade of Iran’s southern ports and saying the measures are intended to severely limit Iran’s ability to operate abroad, further straining Iranians’ links with the outside world.