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U.S. Treasury Moves to Cut MBaer Bank Over Corruption

2/26/2026

Summary

Story summary

On February 26, 2026, U.S. Treasury Department proposed a rule to cut MBaer Merchant Bank AG's access to the U.S. financial system.
The Treasury accuses MBaer of facilitating corruption and money laundering linked to Venezuela, Russia, and Iran's Islamic Revolutionary Guard Corps.
Treasury Secretary Scott Bessent said MBaer funneled over $100 million through U.S. system; the rule invites public comments for 30 days and would bar MBaer accounts if finalized.

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Story summary

On February 26, 2026, U.S. Treasury Department proposed a rule to cut MBaer Merchant Bank AG's access to the U.S. financial system.
The Treasury accuses MBaer of facilitating corruption and money laundering linked to Venezuela, Russia, and Iran's Islamic Revolutionary Guard Corps.
Treasury Secretary Scott Bessent said MBaer funneled over $100 million through U.S. system; the rule invites public comments for 30 days and would bar MBaer accounts if finalized.