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Treasury Targets UAE Firms to Further Isolate Iran

8/31/2026

23 3 Full Breakdown

Summary

Story summary

U.S. Treasury Secretary Scott Bessent launched a campaign to further isolate Iran’s economy.
The Treasury aims to cut off UAE branches of Egypt’s Banque Misr from U.S. finance.
It also sanctions a Dubai manager of Iran’s Bank Melli.
Iranian crude loadings fell to about 260,000 bpd in August, over 80% below August 2025 levels.
Analysts warned sanctions will not force Tehran unless China, which buys 90% of its oil, faces pressure.

History

Historical Context

2012 U.S. blacklisting of the National Iranian Oil Company cut exports to about 860,000 barrels per day, down from 2.2 million. That action began the “maximum pressure” approach later expanded by Trump in 2018 and a 2025 network crackdown. In 2024 Treasury Secretary Scott Bessent targeted UAE branches of Banque Misr and a Dubai manager of Bank Melli, echoing the earlier oil-finance sanctions.

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Story summary

U.S. Treasury Secretary Scott Bessent launched a campaign to further isolate Iran’s economy.
The Treasury aims to cut off UAE branches of Egypt’s Banque Misr from U.S. finance.
It also sanctions a Dubai manager of Iran’s Bank Melli.
Iranian crude loadings fell to about 260,000 bpd in August, over 80% below August 2025 levels.
Analysts warned sanctions will not force Tehran unless China, which buys 90% of its oil, faces pressure.

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