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The US Treasury Department proposes to revoke Banque Misr UAE’s correspondent banking access to sever Iranian financial lifelines.

The US Treasury Department proposed to revoke Banque Misr UAE’s correspondent banking access to US financial institutions. This move is part of Operation Economic Outcast, a broader initiative by the US government to sever the remaining financial lifelines sustaining the Islamic Revolutionary Guard Corps (IRGC). Treasury Secretary Scott Bessent stated that the department intends to sever every economic lifeline Tehran has left to finally end the threat of the Iranian regime. The proposal aims to communicate a clear economic message to Iran by removing a critical node in its access to US dollars. Simultaneously, regional security dynamics continue to shift. In Israel, security forces recently raided a large-scale operation to smuggle weapons into the country. Additionally, the IDF killed two Hamas terrorists in a strike in the Jabalya area of Gaza. In the West Bank, Israeli security forces removed rioters who had barricaded themselves inside a Palestinian house in Kusra, eventually confiscating their vehicles as part of an ongoing investigation.

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