Washington Limits Egyptian Bank in UAE
The U.S. Treasury Department announced restrictions on the branches of Bank Misr in the UAE from accessing the American financial system, due to their involvement in financial transactions linked to Iran. These measures are part of a broader effort to tighten sanctions on Tehran and are expected to impact the branches’ ability to use the dollar in daily transactions. Washington continues to impose economic pressures on Iran amid resistance from the Iranian government, which claims that the sanctions have failed to achieve their objectives, with the Iranian president acknowledging the economic difficulties facing the country.
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