US to set limits on Egyptian bank in effort to pressure Iran: Official

Middle East News
28-08-2026 | 10:36
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US to set limits on Egyptian bank in effort to pressure Iran: Official
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US to set limits on Egyptian bank in effort to pressure Iran: Official

The Treasury Department is due to cut off a major Egyptian bank's operations in the United Arab Emirates from the U.S. financial system, a U.S. official confirmed Friday, as Washington pushes to choke Iran off economically.

The move impacts UAE branches of Egypt's second biggest bank, Banque Misr. U.S. Treasury Secretary Scott Bessent laid out plans earlier this week for Iran's "economic asphyxiation" six months into a war on Tehran.



AFP
 

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