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US Imposes Sanctions on Egypt's Second-Largest Bank Amid Allegations of Iran Business Ties
US sanctions have cut off the UAE operations of Banque Misr from the US financial system, citing accusations that Egypt's second-biggest bank does business with the Iranian government.
The United States has imposed sanctions on Banque Misr, Egypt's second-largest bank, by cutting off its operations in the US financial system due to allegations that it has done business with the Iranian government. The move is part of a broader effort to counter Iran's economic influence. As a result, Banque Misr's UAE operations will be isolated from the US financial system.
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