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US hits Egyptian bank branches with Iran sanctions as war marks six months

The U.S. Treasury said it views Banque Misr’s six UAE branches as a “critical node” ​for the Iranian ⁠government’s access to U.S. dollars.

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The U.S. imposed ‌Iran-related sanctions on an Egyptian bank on Friday, part of Treasury Secretary Scott Bessent’s campaign to increase economic pressure to try to break a stalemate six months into Washington’s war with Iran, Reuters reported.

Treasury said it moved to cut off Banque Misr’s branches in the United Arab Emirates from dollar transactions for its dealings ​with Iran. In a statement, it said its Financial Crimes Enforcement Network (FinCEN) proposed a rule that would revoke Banque Misr ​UAE’s correspondent banking access to U.S. financial institutions.

The action, teased by Bessent on Monday as a “major announcement” ⁠of a secondary sanction on an international bank, was first reported by the Financial Times.

“Treasury promised to sever every economic lifeline Tehran ​has left and finally end the threat of the Iranian regime,” Bessent said in a statement. “We also warned that Iran’s enablers cannot continue ​to enjoy access to the U.S. dollar and the global financial system. Banque Misr UAE decided to find out the hard way, and today, we are taking the first step in holding it accountable for its continued, egregious support of the Iranian regime.”

Egypt’s central bank said on Friday that the U.S. ​action only affected Banque Misr’s UAE branches and did not extend to any other Egyptian banks. The Central Bank of Egypt said ​in a statement that it and Egypt’s Ministry of Foreign Affairs were in contact with the U.S. authorities about the measures.

A Treasury official also said ‌the ⁠action only applies to Banque Misr’s UAE branches, allowing the bank to continue dollar transactions through its head office in Cairo and other foreign branches. These include Paris, Frankfurt, Riyadh, Beirut and Djibouti, according to Banque Misr’s website.

Treasury’s Office of Foreign Assets Control separately issued sanctions targeting the manager of Iran’s Bank Melli branch in the UAE as well as a Hong Kong entity that it said helped ​launder money for a sanctioned ​Iranian exchange house.

Banque Misr UAE ⁠did not immediately respond to a Reuters request for comment on a public holiday. The sanctioned Bank Melli branch manager, Reza Mohammad Taeedi, also did not immediately respond to a Reuters email requesting comment.

The U.S. Treasury said it views Banque Misr’s six UAE branches as a “critical node” ​for the Iranian ⁠government’s access to U.S. dollars.

The department said it estimates that between January 2024 and June 2026, Banque Misr UAE processed approximately $1.8 billion in transactions for 103 companies that are potentially part of Iranian shadow banking networks.

U.S. State Department spokesperson Tommy Piggott said in a statement that Bank ⁠Melli has ​served as a critical financial hub for Iran’s armed forces, including the Islamic ​Revolutionary Guard Corps-Qods Force and the Ministry of Defense and Armed Forces Logistics, both entities under U.S. sanctions.

Iran has urged other nations not to join new U.S. sanctions.

World

One dead in new attack on Saudi airport, a day after Houthi strike kills 13

US aviation authorities issued a notice to US airlines to use caution while flying to or over the kingdom, Reuters reported.

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One person was killed and nearly a dozen hurt in a new attack ​Riyadh’s international airport on Sunday, Saudi authorities reported, a day after a strike claimed by Yemen’s Iran-aligned Houthis that killed 13 people and wounded more than 300, Reuters reported.

Saudi-led coalition forces in ‌Yemen said an unidentified projectile had targeted Riyadh’s international airport Terminal 4 on Sunday, causing a fire. Eleven people were wounded in addition to the fatality, the Saudi civil aviation authority said.

Coalition forces also said Saudi air defences had intercepted a cruise missile in the vicinity of King Khalid International Airport. They later added that a drone had been intercepted and destroyed in the country’s Eastern Province, and a ballistic missile launched towards Khamis Mushait had been intercepted. Emergency alerts were also issued in Abha, in the ​south, early on Monday but the danger had since passed, the Saudi Civil Defense said.

The strikes have exposed vulnerabilities in Saudi defence capabilities as the kingdom wages an air campaign against the Houthis, ​who are fighting a ground war in Yemen against the Saudi-backed Yemeni government.

Footage released by Saudi state television of the Saturday attack on the Riyadh airport showed scores ⁠of religious pilgrims lined up at a gate as they prepared to travel to Islam’s two holiest sites. A bright orange flash sent people running in panic, while parts of the roof appeared to cave in, read the report.

The ​airport was closed after the attack, the deadliest in the kingdom in more than a decade.

In a televised speech on Sunday, Houthi military spokesperson Yahya Saree claimed responsibility for Saturday’s attack and said ​the group had also struck the airport in Dammam in Saudi Arabia’s Eastern Province and two facilities of Saudi oil giant Saudi Aramco.

The Saudi government’s media office and Aramco did not respond to requests for comment.

The Saudi civil aviation authority confirmed the strike on Dammam’s King Fahd International Airport late on Sunday, adding that “damage assessments and safety inspections of airport facilities are under way.”

An eyewitness aboard a taxiing aircraft at Dammam told Reuters that around 8:30 p.m. (1730 GMT) on Sunday, they saw a projectile strike ​the tarmac beside several parked aircraft, causing a fire. The witness said the aircraft returned to the gate. Passengers disembarked and were told to leave.

Flight-tracking website Flightradar24 showed several delays and cancellations on Sunday for arrivals and ​departures at Dammam airport, the kingdom’s third-largest.

The Houthis earlier on Sunday had renewed their warning against using Saudi airports. “We urge everyone to take our warnings seriously, and Saudi Arabia bears responsibility for any failed interceptions,” the group said.

Britain’s embassy in Saudi ‌Arabia in a ⁠post on X advised British citizens against all but essential travel to Jeddah, Dammam and all airports in the kingdom except the airport in Medina.

US aviation authorities issued a notice to US airlines to use caution while flying to or over the kingdom, Reuters reported.

Saudi Arabia has recently stepped up its military involvement in Yemen, launching strikes against the Houthis and backing a government counteroffensive after the Houthis seized strategic territory along the Red Sea coast last month.

The Houthis said on Sunday that Saudi Arabia carried out 124 air strikes in Yemen in the past 24 hours. “Unless the Saudi enemy stops its aggression and interference in Yemen, worse is yet ​to come, God willing,” Yemen’s Houthi-run foreign ministry said ​in statements carried by Al Masirah television.

US President ⁠Donald Trump said on Saturday the United States was considering joining Saudi strikes on the Houthis in the conflict, a spillover from the wider war with Iran that the US and Israel launched in February.

In a post on Telegram, Iran’s foreign minister Abbas Araqchi said he told his Saudi counterpart that Tehran was ready to help facilitate ​dialogue between Saudi Arabia and Yemen.

A five-day conference of international energy organization WPC Energy opened as planned on Sunday at a convention ​centre about 10 km (6 miles) from ⁠the Riyadh airport, the Saudi energy ministry said.

A ministerial meeting of the International Energy Forum also went ahead, according to a media advisory from the ministry. It was not clear which ministers attended.

Italy’s energy minister, Gilberto Pichetto Fratin, whose country was co-hosting, had said on Friday he would participate remotely via video link.

German officials were trying to organise a return flight for economy minister Katherina Reiche, read the report.

She was supposed to return to Berlin from Riyadh on Monday but the ⁠ministry said it ​appeared likely her flight would be unable to take off.

Separately, Saudi authorities announced that in-person classes at schools in Riyadh would be ​shifted to remote learning from Sunday until Thursday.

Sunday’s attack brought the death toll in attacks on Riyadh’s airport to 18 for the week. In Saturday’s attack, the dead included four Saudis while the remainder were foreign nationals, Saudi authorities said.

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World

14 killed in two separate mass shootings across the United States

Pennsylvania Governor Josh Shapiro expressed his support for the affected community, describing the incident as a tragic loss of life.

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At least 14 people have been killed in two separate mass shootings in the United States within hours of each other, according to local authorities.

Five people were shot dead at a home in Douglas, Georgia, on Friday evening, police said.

In a separate incident in Erie, Pennsylvania, nine people were killed, including two children and a pregnant woman. Authorities confirmed that the suspected assailant was also among the dead.

Erie Police Chief Rick Lorah described the scene as one of the most devastating incidents of his career, saying the motive for the shooting had not yet been established.

Pennsylvania Governor Josh Shapiro expressed his support for the affected community, describing the incident as a tragic loss of life.

Authorities are continuing to investigate the circumstances surrounding both shootings.

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World

Zelenskiy says letting Russia sell diesel to US is ‘investment in war’

 “Gifts to Putin will not ​bring peace or any benefit to the civilised world,” Zelenskiy wrote ​on the X social media platform.

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Ukrainian President Volodymyr Zelenskiy criticised an accord on ​Friday between the US and Russia allowing Moscow to provide the ‌US with diesel, calling it “an investment in a war that must be ended.”

He dismissed the accord, which was announced while a Ukrainian delegation was ​in the US to discuss how to seek a ​resolution of the war with Russia, as “a weak decision ⁠on the part of strong partners”.

 “Gifts to Putin will not ​bring peace or any benefit to the civilised world,” Zelenskiy wrote ​on the X social media platform.

“Russia will ‘repay’ the diesel with further terror and perfidy. Allowing Russia to sell petroleum products is an investment in a war ​that must be ended, not prolonged. What is needed is ​real de-escalation with Russia on a reciprocal basis,” Zelenskiy said.

Trump said in ‌a ⁠post on social media that he had agreed in a call with Russian President Vladimir Putin that Russia would immediately supply diesel to the US and global marketplace. Trump said lower prices ​for Americans “is my ​Greatest Priority”.

 Zelenskiy, ⁠speaking to reporters later on WhatsApp, said the accord would provide Moscow with additional funds to ​wage war and undermine any attempts to work ​towards a ⁠settlement.

“I believe our team is simply being used as a front. And that is certainly not fair, nor is it how partners ⁠should ​treat each other,” he said. “In my ​view, it is a weak decision on the part of strong partners.”

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