US Treasury Secretary Scott Bessent said Friday that Washington was taking the first step to hold Banque Misr UAE accountable for its support of Iran, as part of the Operation Economic Outcast campaign.
“Banque Misr UAE decided to find out the hard way, and today, we are taking the first step in holding it accountable for its continued, egregious support of the Iranian regime,” Bessent wrote in a post on X.
“Treasury promised to sever every economic lifeline Tehran has left and finally end the threat of the Iranian regime,” he added, saying entities helping Iran could not continue to enjoy access to the US dollar and the global financial system.
The Treasury Department said FinCEN proposed revoking Banque Misr UAE’s correspondent banking access to US financial institutions.
It also said the Office of Foreign Assets Control sanctioned Bank Melli Dubai manager Reza Mohammad Taeedi and a Hong Kong-based front company accused of laundering funds for a sanctioned Iranian exchange house.
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