Banque Misr, Egypt’s second-largest, hit by US sanctions: What to know - Al Jazeera
The US Treasury has moved to cut off the UAE operations of Egypt's Banque Misr from the American financial system, citing the bank's alleged business dealings with Iran. This action is part of a broader US strategy to exert economic pressure on Tehran amid stalled truce negotiations.
Why it matters
The sanction highlights the US government's aggressive use of financial isolation as a tool of foreign policy against Iran and its international enablers.
The move comes as Washington steps up its efforts to economically pressure Iran amid a deadlock in truce talks.
x whatsapp-stroke copylink google Add Al Jazeera on Google info The new headquarters of Banque Misr of Egypt, in the New Administrative Capital east of Cairo [File: Mohamed Abd El Ghany/Reuters] By Priyanka Shankar Published On 30 Aug 2026 30 Aug 2026 The United States has said it will cut off the UAE operations of Banque Misr from the US financial system after accusing Egypt’s second-biggest bank of doing business with the Iranian government.
“ Treasury promised to sever every economic lifeline Tehran has left and finally end the threat of the Iranian regime,” US Secretary of the Treasury Scott Bessent said in a statement on Friday.
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