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[INTERNATIONAL] · United States, United Arab Emirates, Egypt, Iran, Hong Kong SAR China · 74 sources

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US Treasury targets Banque Misr UAE and Bank Melli official in Iran sanctions campaign

The United States has initiated ‘Operation Economic Outcast’ to further isolate Iran from the global financial system. As part of this campaign, the U.S. Treasury Department has proposed a rule to revoke the access of Banque Misr’s United Arab Emirates branches to U.S. correspondent banking services. The Treasury alleges that between January 2024 and June 2026, the UAE branch processed approximately $1.8 billion for 103 companies potentially linked to Iranian shadow banking networks, including front companies for Iran’s Ministry of Defense and the IRGC.

Additionally, the U.S. has imposed sanctions on Reza Mohammad Taeedi, the Dubai branch manager of Bank Melli Iran, and Kameng Trading Limited, a Hong Kong-based entity accused of assisting sanctioned Iranian individuals in accessing the international financial system.

In response, Iranian Foreign Minister Abbas Araghchi condemned the measures as an ‘economic terrorism campaign’ and asserted that the U.S. bears international responsibility for damages caused by unilateral sanctions, demanding full restitution and reparations. The Egyptian Central Bank stated that the proposed measures only affect the UAE branch’s U.S. dollar transactions and do not impact the broader Egyptian banking sector.

Entities

Abbas Araghchi · Antonio Guterres · Bank Melli · Bank Melli Iran · Banque Misr · Iran · Mohammad Bagher Ghalibaf · Scott Bessent · UN Security Council · US Department of the Treasury · US Treasury Department · United Nations

Claims

What the coverage asserts, and how many sources carry each claim.

Sources

İran'dan ABD'ye [www.malatyaguncel.com]