U.S. targets Egyptian bank's UAE branches under new push for Iran's economic isolation
Under a new rule proposed Friday by the Treasury Department, the Emirati branches of Banque Misr, Egypt's second-largest bank, would be severed from access to the U.S. financial system.
The US Treasury Department has proposed a new rule that would cut off the Emirati branches of Banque Misr, Egypt's second-largest bank, from accessing the US financial system. This move is part of the US effort to economically isolate Iran.
Iran has condemned the new sanctions as "state terrorism" and urged other countries not to cooperate. The Iranian Foreign Ministry stated that countries are legally obliged not to implement the sanctions.
The US has been pressuring countries to cut their business ties with Iran, warning of secondary sanctions for non-compliance. According to The Korea Times, President Donald Trump has reiterated that the US is not in talks with Iran, and the White House has stated that the economic campaign will continue until Tehran is willing to engage in meaningful discussions.
Brief written by urgent.news from PBS NewsHour, The Times of Israel, The Korea Times — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- US targets Egyptian bank’s UAE branches under new push for Iran’s economic isolation apnews.com
- US announces new Iran sanctions; Tehran hits back, calls them 'state terrorism' hindustantimes.com
- Iran urges nations not to join new US sanctions, mediators push to reopen strait koreatimes.co.kr
- US targets Egyptian bank in new round of Iran sanctions israelnationalnews.com
- China rejects US sanctions threat over Iran ties, calls cooperation legal english.ajel.sa
- US targets Egyptian bank’s UAE branches under new push for Iran’s economic isolation winnipegfreepress.com
