U.S. Treasury Proposes Sanctions Against Egyptian Bank's UAE Branches for Iran Ties

The U.S. Treasury's FinCEN has proposed barring six UAE branches of Egypt's Banque Misr from direct access to the U.S. financial system. This move stems from alleged dealings with Iran's "shadow banking" network, involving an estimated $1.8 billion in transactions. The action, part of Washington's "Economic D-Day" campaign, aims to restrict dollar transactions and signals a broader effort against entities linked to Iran, potentially impacting international financial flows.