US Imposes Iran Sanctions on Egyptian Bank

In the sixth month of the ongoing war with Iran, the US Department of Treasury imposed Iran-related sanctions on the United Arab Emirates branches of Egypt-based Banque Misr to increase economic pressure and cut off Tehran's financial resources.

Purpose and Scope of the Sanctions

The US Department of Treasury took action in the sixth month of the war between Washington and Iran to increase economic pressure and break the deadlock.

In line with the decision taken, efforts are being made to prevent Banque Misr's branches in the United Arab Emirates from conducting dollar transactions.

FinCEN Restrictions and Official Statements

The Financial Crimes Enforcement Network proposed a rule that would revoke correspondent banking access to US financial institutions for Banque Misr's UAE branches.

Treasury Secretary Scott Bessent stated that they would sever Iran's economic lifelines and that those supporting the regime would not have access to the global financial system.

Central Bank of Egypt and Branch Status

The Central Bank of Egypt announced that the US move only affects Banque Misr's UAE branches and does not cover other Egyptian banks.

It was reported that the restriction in question does not affect the bank's headquarters in Cairo or its other foreign branches in Paris, Frankfurt, Riyadh, Beirut, and Djibouti.

Transactions Conducted and Money Laundering Allegations

The US Department of Treasury stated that Banque Misr's UAE branches functioned as a critical nexus for the Iranian government's access to dollars.

Between January 2024 and June 2026, approximately $1.8 billion in transactions were processed through the bank's UAE branches for companies linked to Iranian shadow banking networks.