Treasury Targets Egyptian Bank
U.S. Treasury seeks sanctions on an Egyptian bank's UAE branches over alleged Iran ties.
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Analysis & opinion
The reporting
The U.S. Treasury Department proposed a rule on Aug. 28 to cut Banque Misr’s United Arab Emirates branches off from U.S. financial institutions by revoking their correspondent banking access. Treasury said the branches processed about $1.8 billion over the past two years for 103 companies potentially linked to Iran’s shadow-banking networks. The proposed action is part of Operation Economic Outcast, a Trump administration effort led by Treasury Secretary Scott Bessent to isolate Iran’s economy and pressure Tehran.
Analysis & opinion
Financial WarfareLeans Right
Washington’s campaign against Iran’s covert funding channels is a forceful economic attack meant to isolate Tehran from global finance. By targeting key lifelines and threatening facilitators with exclusion from the U.S. financial system, the pressure could hurt the regime more effectively than direct military action.
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