Treasury announces new sanctions on Egyptian bank's UAE branch
The U.S. Treasury Department on Friday announced new restrictions on the United Arab Emirates branch of the Egyptian state-owned bank Banque Misr as part of Operation Economic Outcast, the Trump administration's new strategy to economically isolate Iran.
TL;DR
- U.S. Treasury Department announced new restrictions.
- Targeted entity: United Arab Emirates branch of Banque Misr.
- Banque Misr is an Egyptian state-owned bank.
- Action is part of "Operation Economic Outcast."
- This strategy aims to economically isolate Iran.