HIGHGeneral
US to set limits on Egyptian bank in effort to pressure Iran
🇮🇷 IranAug 28, 2026 14:40SRC: MIDDLE EAST EYEBY: Alex MacDonald
INTELLIGENCE SUMMARY
US to set limits on Egyptian bank in effort to pressure Iran The Treasury Department is due to cut off a major Egyptian bank's operations in the United Arab Emirates from the US financial system, a US official confirmed Friday, as Washington pushes to choke Iran off economically. The move impacts UAE branches of Egypt's second biggest bank, Banque Misr. US Treasury Secretary Scott Bessent laid out plans earlier this week for Iran's "economic asphyxiation" six months into a war on Tehran. Report
DETAILED REPORT
US to set limits on Egyptian bank in effort to pressure Iran
The Treasury Department is due to cut off a major Egyptian bank's operations in the United Arab Emirates from the US financial system, a US official confirmed Friday, as Washington pushes to choke Iran off economically.
The move impacts UAE branches of Egypt's second biggest bank, Banque Misr. US Treasury Secretary Scott Bessent laid out plans earlier this week for Iran's "economic asphyxiation" six months into a war on Tehran.
Reporting by AFP
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