The Central Bank of Egypt announced that it was, together with the Ministry of Foreign Affairs, in contact with the American side regarding reports that the Misr Bank branch in the United Arab Emirates has been subjected to certain American measures taken as part of the tightening of the economic restrictions imposed on Iran.
The Central Bank of Egypt clarified that these measures concern only transactions conducted in US dollars by the Misr Bank branch in the United Arab Emirates with its correspondent banks. Their impact does not extend to any other bank in the Egyptian banking sector, including Banque Misr in the Arab Republic of Egypt, nor to its other overseas branches.
The Central Bank of Egypt also reaffirmed the solidity and robustness of all banks operating in the Arab Republic of Egypt.
It should be recalled that the United States launched the ‘Economic Pariah’ operation, a broad campaign aimed at completely isolating Iran from the global financial system. In response, Tehran threatened to paralyze oil exports transiting through the maritime routes of the region, raising fears of an aggravation of the energy crisis.
The American Secretary of the Treasury, Scott Bessent, said that the objective of this operation was to “cut any economic artery that supports this authoritarian regime, until Tehran finds itself isolated”.
He added that the “unprecedented” sanctions, ordered by U.S. President Donald Trump, target the “main vital arteries” of the Iranian economy and concern notably the sectors of aviation, maritime transport, gold, technologies and digital assets.
