The US Treasury moves to sanction the UAE branch operations of Banque Misr, citing links to Iran. The department says Banque Misr UAE processed substantial payments connected to Iranian “shadow banking” activity, and it takes action against the UAE-based branch as part of its effort to disrupt those networks.
Treasury says the bank handled transfers tied to roughly 100 companies over a period of about two years, with figures reported by the department exceeding $1 billion. CNBC reports about $1.8 billion processed over two years, while Al-Monitor reports over $1 billion, with both accounts attributing the payments to Iranian shadow banking networks. The differing totals reflect variations in the reported time span or scope of transactions described by the outlets, but the underlying allegation and target—Banque Misr’s UAE branches—are consistent across coverage.
Both outlets frame the action as part of broader US efforts to counter Iran-related illicit finance. The sanctions are aimed at the UAE branch, not at Banque Misr’s operations elsewhere.
