The United States on Friday announced another round of targeted sanctions tied to Iran, following public remarks earlier this week by Treasury Secretary Scott Bessent who warned of additional measures six months into Washington’s ongoing war with Iran.
A U.S. official said the administration intends to limit an Egyptian bank because of its business dealings with Tehran and to withdraw U.S. financial access for that bank's branches in the United Arab Emirates. The proposed rule, the official added, would - if finalized - revoke correspondent banking access for the Banque Misr UAE branches with U.S. financial institutions.
The forthcoming action had been reported earlier by outside media. Treasury officials separately issued sanctions targeting one entity based in Hong Kong and one person linked to Iran’s Bank Melli, according to a notice posted on the Department of the Treasury’s website.
Iran has publicly urged other countries not to participate in new U.S. sanctions, the government said following the announcement.
The measures announced Friday are described by officials as targeted steps focused on specific financial relationships and individuals or entities with links to Iran. The proposed rule regarding correspondent banking access would apply to Banque Misr’s UAE operations if the policy is finalized through the regulatory process described by the Treasury.
In addition to the proposed limits on Banque Misr’s UAE branches, Treasury's notice records sanctions against a single Hong Kong-based entity and one person associated with Iran’s Bank Melli. The notice posted on the Treasury website provides the formal record of those separate designations.
Officials framed the actions as part of an ongoing effort to address financial channels connected to Iran. Iran’s response urging other nations not to adopt the new measures was also noted publicly after the U.S. announcements.
Summary
The administration announced targeted Iran-related sanctions on Friday, including a proposed rule that would revoke correspondent banking privileges for Banque Misr’s UAE branches and separate designations affecting a Hong Kong entity and an individual linked to Bank Melli. The moves follow Treasury Secretary Scott Bessent’s earlier warning about further action at the six-month point of Washington’s war with Iran.