The US Treasury Department announced Friday it plans to sever Banque Misr’s UAE branch from the global financial system. This action stems from accusations that the bank facilitated financial transactions for Iran. US officials allege the branch processed transactions deceptive in nature to avoid sanctions. The move signals a heightened crackdown on entities assisting Iran in circumventing international financial restrictions. Banque Misr’s UAE operations now face significant limitations in accessing the US financial system and corresponding global networks. This decision reflects ongoing US efforts to enforce sanctions against Iran and disrupt its financial activities. Further details regarding the specific transactions prompting this action are expected to be released.