The US Treasury Department on Friday unveiled its first 'secondary' Iran sanctions related to Trump's 'Economic D-Day' against Iran, on Friday naming an Egyptian bank in the UAE.
Ironically both of these latter countries are close American allies, and this comes at a moment the White House has failed to confirm whether the US will actually go after China for the same trade violations.
Via britannica.comThe UAE branches of Egypt's Banque Misr are being newly sanctioned over their business dealings with Iran, cutting off the branches' access to US financial institutions and forbidding transactions in US dollar.
"Treasury promised to sever every economic lifeline Tehran has left and finally end the threat of the Iranian regime," Treasury Secretary Scott Bessent said in a statement given to FT.
"We also warned that Iran's enablers cannot continue to enjoy access to the US dollar and the global financial system. Banque Misr UAE decided to find out the hard way and, today, we are taking the first step in holding it accountable for its continued, egregious support of the Iranian regime," Bessent added.
In addition, there is an entity which could be characterized as on the 'periphery' of China and its Iran dealings also newly named and targeted.
Treasury separately imposed sanctions on a financial entity in Hong Kong and one person linked to Iran's Bank Melli. This is "a Hong Kong entity that it said helped launder money fo
