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VINnews · Aug 28, 2026

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*🇺🇸 🇦🇪-Treasury Moves To Cut UAE Branch Of Egyptian Bank Off From U.S. Dollars Over Iran Ties* The Treasury Department on Friday moved to cut Banque Misr’s UAE branches off from the U.S. financial system over alleged ties to Iranian shadow banking. FinCEN proposed a rule that would revoke the bank’s correspondent access to U.S. institutions. Treasury says those UAE branches processed about $1.8 billion between January 2024 and June 2026 for 103 companies it links to Iranian networks. The action is limited to the UAE branches. Egypt’s central bank said the bank’s Cairo headquarters and other overseas offices are not included. The proposal is part of Treasury Secretary Scott Bessent’s Operation Economic Outcast campaign. It now faces a 30-day public comment period before it can take effect. Treasury also sanctioned Reza Mohammad Taeedi, general manager of Iran’s Bank Melli branch in Dubai, and a Hong Kong firm it accused of laundering funds for a sanctioned Iranian exchange house.

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