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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.
- [● 5 SOURCES] Iran requested UN Secretary-General Antonio Guterres to assess and report on the humanitarian consequences of US measures. dailymeezan.com · www.politika.rs · see.mv · www.diepresse.com · novamakedonija.com.mk
- [● 9 SOURCES] US sanctions deliberately harm Iranian civilians by restricting access to food, medicine, and energy. www.diepresse.com · novamakedonija.com.mk · www.telesurtv.net · www.politika.rs · dailymeezan.com · +3 more
- [● 10 SOURCES] Iran called on the UN Security Council and member states to reject and not implement US unilateral coercive measures. dailymeezan.com · www.diepresse.com · novamakedonija.com.mk · www.telesurtv.net · www.politika.rs · +5 more
- [● 5 SOURCES] The US has announced ‘Operation Economic Expulsion’ to isolate Iran economically. novamakedonija.com.mk · www.telesurtv.net · www.politika.rs · news.az · newscentraltv.com
- [● 3 SOURCES] The US must provide full compensation, including restitution and reparations, for damages caused by unilateral sanctions. dailymeezan.com · see.mv · www.telesurtv.net
- [● 12 SOURCES] Iranian Foreign Minister Abbas Araghchi described US sanctions as an ‘economic terrorism campaign’. dailymeezan.com · see.mv · www.diepresse.com · novamakedonija.com.mk · www.telesurtv.net · +5 more
- [DISPUTED] US Treasury Secretary Scott Bessent warned that those trading with Iran will face the full force of US power. www.diepresse.com · novamakedonija.com.mk · new.trn.mk · antropol.mk · newscentraltv.com · +6 more
- [○ 1 SOURCE] Iranian Parliament Speaker Mohammad Bagher Ghalibaf stated that the strategic partnership between Iran and China does not require anyone's permission. antropol.mk
- [● 7 SOURCES] The US has launched ‘Operation Economic Outcast’ to isolate Iran economically. thevaultznews.com · newscentraltv.com · trendingpoliticsnews.com · alsaudi.news · www.khabarfoori.com · +2 more
- [● 8 SOURCES] US Treasury Secretary Scott Bessent stated this is the first major economic measure taken since the announcement of an economic war against Tehran. www.khabarfoori.com · www.diarioestrategia.cl · www.lacronicabadajoz.com · www.diariodemallorca.es · www.cartacapital.com.br · +3 more
- [● 11 SOURCES] The proposed rule includes a 30-day period for public comment before final implementation. www.khabarfoori.com · www.aljazeera.net · www.ajnet.me · www.diarioestrategia.cl · www.lacronicabadajoz.com · +6 more
- [● 8 SOURCES] The U.S. Treasury also sanctioned a manager of Bank Melli Iran in the UAE and a Hong Kong-based company. www.khabarfoori.com · ir.voanews.com · www.aljazeera.net · www.europesays.com · mymotherlode.com · +3 more