US Treasury Imposes Sanctions on Egyptian Bank's UAE Branches Over Iran Business

The U.S. Treasury Department has announced it will revoke U.S. financial access to the UAE branches of Banque Misr, Egypt's second-largest bank, to prevent them from transacting in dollars. This move is part of the Trump administration's efforts to implement an economic crackdown on Tehran and targets entities enabling Iran's shadow-banking network to evade sanctions.