The US Treasury plans to restrict a major Egyptian bank’s access to the US financial system through its United Arab Emirates branches, a US official says. The measure targets Banque Misr, described as Egypt’s second biggest bank, and is set to cut off its operations in the UAE from US financial channels.
The action is presented as part of Washington’s broader effort to reduce Iran’s economic ties by limiting its ability to use global banking and financial networks. One outlet reports the Treasury has laid out the approach as part of wider efforts to choke Iran’s economy, framing it as pressure implemented after a sustained period of escalation.
All accounts describe the bank-related restrictions as focused on the UAE presence of Banque Misr, rather than on Egypt’s domestic banking directly. While details of timing and the exact form of the limits are not specified in the excerpts, the outlets agree that the move is intended to exert financial pressure connected to Iran policy.
