U.S. Sanctions Egyptian Bank Over Iran Transactions Amidst Ongoing Conflict

The U.S. Treasury Department has sanctioned the UAE branches of Banque Misr, Egypt's second-largest bank, restricting their access to U.S. financial institutions for dollar transactions. This action is part of the Trump administration's economic campaign against Tehran, coinciding with the six-month mark of the "Iran war." Treasury Secretary Scott Bessent stated the goal is to sever Iran's remaining economic lifelines, while Iran condemned the sanctions as "state terrorism."