The United States on Friday imposed additional targeted Iran-related sanctions, days after Treasury Secretary Scott Bessent threatened further action as Washington’s ongoing war with Iran entered its sixth month.
The Financial Times earlier reported the planned action. The Trump administration plans to impose restrictions on an Egyptian bank over its business dealings with Tehran and revoke US financial access to Banque Misr’s branches in the United Arab Emirates.
The official said the proposed rule, if finalised, would revoke Banque Misr UAE’s correspondent banking access to US financial institutions.
“Putting diplomacy back on track isn’t impossible. The Iranian foreign ministry’s statement came as mediators stepped up efforts to reopen the Strait of Hormuz, which handled 20% of world oil supplies before the war began six months ago and whose status remains the biggest obstacle to a peace deal.
Separately, Treasury officials imposed sanctions on one Hong Kong-based entity and one person linked to Iran’s Bank Melli, according to a notice posted on the Department of Treasury’s website. President Donald Trump’s administration on Monday warned countries to cut their business ties with Iran or face secondary sanctions as part of what it billed as an “economic D-Day,” though the Treasury Department stopped short of actually imposing penalties. Iranian Foreign Minister Abbas Araqchi on Friday described his talks with Al Thani as “creative”, while again urging the US to end its military and economic pressure on Iran and return to negotiations. It hinges on U.S. understanding of one simple fact: pressure doesn’t work,” Araqchi said on X.
Iran’s Foreign Ministry said in a statement on Friday that all countries were obligated under international law to refrain from implementing US sanctions against Tehran, adding that participation in them amounted to complicity in imposing one state’s unlawful will on independent states.
