US sanctions on Bank of Egypt Emirates over Iran links

The United States has imposed sanctions on the branches of Bank of Egypt in the UAE due to their dealings with Iran, where transactions in dollars through the correspondent banking system have been halted. The Treasury Department estimates that these branches conducted transactions amounting to approximately $1.8 billion on behalf of 103 companies believed to be linked to covert Iranian networks between January 2024 and June 2026. The Central Bank of Egypt confirmed that this measure is limited to the UAE branch and does not affect the bank in Egypt or its other branches, while Washington continues to pressure the Iranian regime through these sanctions.

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