Banque Misr, Egypt’s second-largest, hit by US sanctions: What to know

The United States has said it will cut off the UAE operations of Banque Misr from the US financial system after accusing Egypt’s second-biggest bank of doing business with the Iranian government.

“ Treasury promised to sever every economic lifeline Tehran has left and finally end the threat of the Iranian regime,” US Secretary of the Treasury Scott Bessent said in a statement on Friday.

R...