The US government announced new sanctions against Iranian-linked banks six months after the start of the Iran war. Banque Misr UAE, a branch of Egypt's Banque Misr, has had its access to US dollars blocked. The bank is estimated to have processed about $1.8 billion for the Iranian regime in the past to evade US sanctions. The US Treasury Department claimed that Banque Misr UAE was also used for money laundering by the Iranian Ministry of Defense and the Islamic Revolutionary Guard Corps. This measure aims to strengthen economic pressure on the Iranian regime and limit Iran's international financial activities by blocking access to the US dollar. The US Treasury Department warned that those supporting Iran would no longer be able to access the US financial system.
