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U.S. sanctions a UAE branch of Egyptian bank over Iran links
The U.S. Treasury said Banque Misr UAE processed about $1.8 billion over two years for around 100 companies tied to Iran's shadow banking network.
The U.S. Treasury moved to sanction the UAE branch of Banque Misr, citing the bank's Iran-related activity, CNBC Markets reports.
According to the Treasury, Banque Misr UAE processed about $1.8 billion over roughly two years for about 100 companies that may be connected to Iran's shadow banking network, the outlet said.
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