https://www.live-feeds.com/feed/banque-misr-egypt-s-second-largest-hit-by-us-sanctions-what-to-knowContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/banque-misr-egypt-s-second-largest-hit-by-us-sanctions-what-to-knowhttps://www.live-feeds.com/feed/banque-misr-egypt-s-second-largest-hit-by-us-sanctions-what-to-know#u57946Sat, 05 Sep 2026 08:40:17 +0000The US Treasury's Financial Crimes Enforcement Network proposed restricting five United Arab Emirates branches of Banque Misr from accessing US correspondent banking. Authorities claim 103 Iranian front companies moved $1.8 billion through the Emirati branches of Egypt's second-largest bank. In response, the central banks of Egypt and the UAE are coordinating efforts, with the UAE central bank launching an urgent examination of the bank. Meanwhile, US Treasury Secretary Scott Bessent stated that the administration will start sanctioning foreign banks every week as part of a campaign https://www.live-feeds.com/feed/banque-misr-egypt-s-second-largest-hit-by-us-sanctions-what-to-knowhttps://www.live-feeds.com/feed/banque-misr-egypt-s-second-largest-hit-by-us-sanctions-what-to-know#u53211Mon, 31 Aug 2026 13:51:26 +0000The US Treasury is moving to cut the UAE branches of Banque Misr, Egypt's second-largest bank, from the US financial system. This action is part of a broader effort to isolate Iran economically. In response, the central banks of Egypt and the UAE are coordinating their efforts, with the UAE central bank launching an urgent examination of the bank. Treasury official Bessent has indicated that the US intends to sanction another bank as part of this crackdown on Iranian transactions.Why it mattersThese sanctions coincide with a military flare-up involving US strikes on Iranian missile launch