$1.8 billion linked to Iran was transferred from the United

📌 $1.8 billion linked to Iran was transferred from the United Arab Emirates to undisclosed banks in the United States, according to the Department of the Treasury.

The U.S. Department of the Treasury asserts that significant amounts of funds related to Iran still pass through U.S. banks each year. . Cryptocurrency wallet

The U.S. Department of the Treasury asserts that significant amounts of funds related to Iran still pass through U.S. banks each year.

These statements were made amid steps taken by the Treasury Department to restrict access by a Banque Misr branch in the UAE to correspondent accounts in the U.S.

According to The Wall Street Journal, this branch held dollar accounts at three U.S. banks, although the Treasury Department has not disclosed their names.

Officials note that from January 2024 through June 2026, the UAE branch processed up to $1.8 billion for firms linked to Irans shadow banking system.

Iran continues to rely on the services of foreign banks in countries such as the UAE and China that have correspondent accounts in the U.S. Front companies help conceal the source of the transfers so they can pass through the dollar clearing system.

In addition, the Treasury Department reports that in 2024, approximately $9 billion in Iranian funds were detected passing through U.S. banks via all channelsan amount that exceeds the volume linked to the Banque Misr branch in the UAE.

The restrictions against the Banque Misr branch in the UAE are being imposed as part of Operation Economic Outcasta campaign to increase financial pressure on Tehran. This measure has been proposed but has not yet taken effect.

Banque Misr states that it is cooperating with regulatory authorities and that its operations in the UAE are continuing as usual.

U.S. banks have been advised to monitor their correspondent banking relationships more closely for activity related to Iran.”,”detected_source_language”:”RU