US due to cut off UAE branches of Egypt's Banque Misr over Iran ties
The US Treasury Secretary Scott Bessent laid out plans this week for what he called Iran’s “economic asphyxiation,” and said Banque Misr was being targeted for what he called its “continued, egregious support of the Iranian regime.
The US Treasury chief added this week that President Donald Trump was also contacting world leaders with a request to halt interactions with Tehran.
US efforts to choke Iran’s economy are starting to come into effect and a major Egyptian bank is feeling the heat.
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