US Targets Egyptian Bank’s UAE Branches Under New Push for Iran’s Economic Isolation
- On Friday, the Treasury Department proposed cutting Banque Misr UAE from U.S. correspondent banking access, identifying the United Arab Emirates branch as a "primary money laundering concern."
- Banque Misr UAE processed about $1.8 billion for 103 companies over two years, which Treasury claims are front entities for Iran's Defense Ministry and Islamic Revolutionary Guard Corps.
- This action follows Treasury Secretary Scott Bessent launching "Operation Economic Outcast" four days ago; Bessent warned that "Iran's enablers cannot continue to enjoy access to the U.S. dollar and the global financial system."
- Additionally, the Office of Foreign Assets Control sanctioned Bank Melli Dubai manager Reza Mohammad Taeedi and Hong Kong-registered Kameng Trading Limited for laundering funds for the Islamic Revolutionary Guard Corps Quds Force.
- The proposed rule faces a 30-day public comment period before taking effect, while Bessent is set to attend Group of 20 finance ministers meetings next week to encourage international participation in Iran's economic isolation.
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US tightens financial noose around Iran
The US Treasury Department announced another step under Operation Economic Outcast, its campaign to cut the Iranian regime off from its remaining sources of financing. The Treasury Department's Financial Crimes Enforcement Network proposed revoking Banque Misr UAE, the United Arab Emirates branch of the Egyptian bank, from access to correspondent accounts at US financial institutions. […] The post US tightens financial noose around Iran appeared…
The US Treasury Department is considering cutting off the operations of one of Egypt's largest banks in the United Arab Emirates (UAE) from the US financial system, an official confirmed on Friday, as Washington seeks to increase economic pressure on Iran.
Trump administration targets Egyptian bank’s UAE branches in fresh push to isolate Iran
The Trump administration has moved to restrict Banque Misr's UAE branches from the US financial system. They have accused the bank of supporting Iran, as Washington intensifies its push to economically isolate Tehran and pressure countries to cut financial ties.
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Independent EspañolWashington intensifies pressure on Iran by limiting operations of an Egyptian bank in the UAE, seeking to isolate Tehran economically.The measure, still under review, reflects U.S. caution in sanctioning Iran's trading partners, while urging to break financial ties.
This article was originally published on Cedarnews.net. For more exclusive news and reports, visit our website. The United States has escalated its pressure on Iran, with President Donald Trump denying the existence of negotiations between the two countries and Washington's readiness to rally G20 support against Tehran. Meanwhile, Iran has linked the reopening of the Strait of Hormuz to ending the wars in Lebanon, Gaza, and Syria. This news was …
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