Treasury Secretary Scott Bessent moves to sanction bank in UAE for Iran ties

Treasury Secretary Scott Bessent announced Friday that he is working to cut off bank branches in the UAE from the U.S. financial system.

Banque Misr UAE processed about $1.8 billion over two years for some 100 companies that are potentially part of Iran's shadow banking network, Treasury said.

US Treasury Secretary and Bahraini finance minister discuss Iran sanctions US Treasury Secretary Scott Bessent in a call with Bahrain’s finance minister discussed the latest sanctions against Tehran, emphasising the "importance of sustained financial pressure on Iran’s remaining economic lifelines". The US Treas