The Trump administration is taking steps to limit an Egyptian bank's operations in the United Arab Emirates, accusing the financial institution of serving as an economic lifeline to Tehran's leadership as the U.S. war against Iran reaches the six-month mark.
Under a new rule proposed Friday by the Treasury Department, the Emirati branches of Banque Misr, Egypt’s second-largest bank, would be severed from access to the U.S. financial system.
