U.S. Imposes New Sanctions on Iranian Financial Networks

Treasury Secretary Scott Bessent announced sanctions revoking UAE-based Banque Misr's access to U.S. banking, targeting its manager Reza Mohammad Taeedi and a Hong Kong firm linked to laundering for Iran.

The moves address billions in suspected transactions by Egypt's second-largest bank with the regime, amid U.S. efforts that have blocked 130 million barrels of Iranian oil from leaving the region in two weeks.

Iran's Foreign Ministry condemned the actions as illegal economic terrorism harming civilians, urging global nations to reject them as complicity in unlawful pressure.