US Treasury Targets Egyptian Bank Over Iran Dealings

The US Treasury Department has imposed restrictions on an Egyptian bank for conducting business with Iran as part of its ongoing campaign to isolate Tehran from the global financial system.

The move falls under 'Operation Economic Outcast,' a broad initiative launched in August 2026 that targets entities facilitating significant Iran-related transactions. Secondary sanctions, enforced by the Office of Foreign Assets Control (OFAC), restrict foreign financial institutions' US correspondent accounts if they're found to have facilitated such dealings.

The Treasury has expanded its sanctions framework to include digital assets, gold, technology, aviation, and shipping, areas it claims Iran uses to evade existing restrictions. Egypt's strategic location at the crossroads of trade routes makes it a natural hub for commerce that intersects with sanctioned networks.