WASHINGTON: The United States is targeted Banque Misr’s branches in the United Arab Emirates from accessing the American financial system over alleged business dealings involving Iran, marking a new step in Washington’s economic pressure campaign against Tehran; it was confirmed by the Secretary Treasury Scott Basset here Friday through his Twitter handle
According to the available report, the measure forms part of a US campaign described as “Economic Outcast,” aimed at increasing Iran’s financial isolation by targeting foreign institutions that continue conducting business with the country.
If implemented as reported, the restrictions would prevent the UAE branches of Banque Misr from dealing directly with US financial institutions.
Restrictions Could Complicate Dollar Transactions
Moreover, losing access to American banks could make it significantly more difficult for the affected branches to conduct transactions denominated in US dollars.
The dollar’s central role in international banking means restrictions on access to the US financial system can affect cross-border payments, correspondent banking relationships and other international financial operations.
However, the supplied information does not specify the Iranian transactions that allegedly prompted Washington’s action or identify the precise legal mechanism the United States intends to use against the branches.
It also does not indicate whether the restrictions would affect Banque Misr’s wider international operations beyond its UAE presence.
Washington Steps Up Financial Pressure on Tehran
Meanwhile, the reported action suggests Washington is extending pressure beyond Iranian institutions by focusing on foreign banks accused of facilitating commerce involving Tehran.
Such measures could force financial institutions in third countries to weigh continued Iranian business against their access to US banks and dollar-based transactions.
Furthermore, the development could have implications for regional financial institutions maintaining commercial links with Iran.
The supplied report did not include an immediate response from Banque Misr, UAE authorities or Iranian officials.
Consequently, the scope and practical impact of the reported measure will depend on the restrictions Washington formally announces and how international banks respond to them.
BREAKING:
US has begun its ‘Economic Outcast’ campaign against Iran.
US is set to cut off Banque Misr’s UAE branches from the American financial system for doing business with Iran.
This would stop the UAE branches from using US banks and make it difficult for them to make… pic.twitter.com/oZ4O9gW968
— Current Report (@Currentreport1) August 28, 2026
Treasury promised to sever every economic lifeline Tehran has left and finally end the threat of the Iranian regime. We also warned that Iran’s enablers cannot continue to enjoy access to the U.S. dollar and the global financial system. Banque Misr UAE decided to find out the… https://t.co/bMPIrlbrFF
— Treasury Secretary Scott Bessent (@SecScottBessent) August 28, 2026
