US TREASURY TARGETS UAE BRANCHES OF EGYPT'S BANQUE MISR OVER IRAN TIES

The U.S. Treasury Department plans to cut off five UAE-based branches of Egypt's state-owned Banque Misr from the American financial system for allegedly facilitating Iranian sanctions evasion. The branches are accused of processing approximately $1.8 billion for suspected Iranian shadow banking fronts since 2024. The move signals a tougher stance on foreign financial institutions that enable Tehran to access global markets.