The US Treasury on Friday moved to cut Banque Misr UAE off from correspondent banking access to US financial institutions after the bank processed about $1.8 billion for 103 companies allegedly linked to Iranian shadow banking networks between January 2024 and June 2026.
Today, under Operation Economic Outcast, @FinCENnews proposed a rule that would revoke Banque Misr UAE’s correspondent banking access to U.S. financial institutions. Additionally, Treasury’s Office of Foreign Assets Control sanctioned Bank Melli Dubai manager Reza Mohammad…
— Treasury Department (@USTreasury) August 28, 2026The Treasury Department's Office of Foreign Assets Control (OFAC) also sanctioned Dubai-based Iranian national Reza Mohammad Taeedi, general manager of Bank Melli Iran's Dubai branch, and Hong Kong-registered Kameng Trading Limited. According to the Treasury, Bank Melli has facilitated billions of dollars in transactions through accounts controlled by the IRGC Quds Force, while sanctioned Iranian exchange house Pedram Pirouzan Exchange House used Kameng Trading to launder money for Iran.
Iran has condemned the expanded US sanctions campaign, with the Foreign Ministry describing the measures as "state terrorism" and urging other countries not to enforce them.
Hence then, the article about new us iran sanctions wave includes 1 8b uae banking action was published today ( ) and is available on SHAFAQ NEWS ( Iraq ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( New US Iran sanctions wave includes $1.8B UAE banking action )
Also on site :
- Ukraine-Russia war latest: Moscow warns UK ‘playing with fire’ over plans to help Kyiv produce missiles
- Don’t Sleep on These 11 Trader Joe’s September Gems Before They’re Gone for the Season
- Iran-US war latest: Tehran drafting list of conditions to open Hormuz as Trump sends new warship to Middle East