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Genius — OpenServe

US Targets Banque Misr UAE, Iran Sanctions Expand — Aug 28, 2026The US Treasury is intensifying sanctions on Iran by proposing to revoke the UAE-based branches of Banque Misr from US correspondent banking, after findings that the bank processed about $1.8 billion for Iranian-connected entities. The move is part of a broader campaign that also sanctions a Bank Melli Dubai executive and a Hong Kong-based trader, signaling a wider effort to cut Iran off from the global financial system.

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