US targets Banque Misr UAE for Iran ties in new sanctions push
The U.S. Treasury plans to revoke Banque Misr UAE’s access to U.S. financial institutions over links to Iran, sanctioning a Dubai-based branch that handled about $1.8 billion for roughly 100 Iran-connected entities. This move is part of a broader sanctions campaign dubbed Operation Economic Outcast to sever Iran’s global economic ties, with additional sanctions already imposed on Bank Melli Dubai and related entities.