The Trump administration plans to impose limits on Egyptian bank Banque Misr for doing business with Tehran and revoke U.S. financial access to its branches in the United Arab Emirates. If finalized, the proposed rule would end Banque Misr UAE’s correspondent banking access to U.S. financial institutions. The move follows Treasury Secretary Scott Bessent’s threat of further action six months into Washington’s ongoing war with Iran. Treasury separately sanctioned a Hong Kong-based entity and a person linked to Iran’s Bank Melli. The measures add to an earlier FinCEN proposal to cut a foreign bank off from the U.S. financial system under Section 311, while OFAC targeted UAE-based entities tied to Iran’s money-laundering networks. That earlier case involved about $6.4 billion in potential shadow banking transactions originating in Dubai, Swiss liquidation proceedings and the reported loss of major correspondent banking services. As of late August 2026, no final determination on the earlier banking prohibition had been issued.