USA cutting off UAE and Egypt bank as dollar weaponization continues
Treasury promised to sever every economic lifeline Tehran has left and finally end the threat of the Iranian regime. 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… https://t.co/bMPIrlbrFF
— Treasury Secretary Scott Bessent (@SecScottBessent) August 28, 2026
The USA is taking steps to “punish” those who it feels have too close economic ties to Iran In addition to the tweet above that mentions the UAE, notice the following related to Egypt:
White House blocks Egyptian bank from accessing USD over ‘Iran ties’
August 28, 2026
The US Treasury Department is set to revoke access to the US financial system for branches of an Egyptian bank in the UAE as part of its newest effort to strangle Iran with economic sanctions, the Financial Times (FT) reported on 28 August.
The US Treasury said on Friday that it would target the UAE branches of Egypt’s Banque Misr over their business dealings with Iran, cutting off the branches’ access to US financial institutions and preventing them from transacting in dollars.
“Treasury promised to sever every economic lifeline Tehran has left and finally end the threat of the Iranian regime,” Treasury Secretary Scott Bessent said in a statement shared with FT.
“We also warned that Iran’s enablers cannot continue to enjoy access to the US 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,” he added.
The US issued additional targeted Iran-related sanctions on Friday, days after Bessent announced “D-Day” economic measures against the Islamic Republic.
Treasury officials separately imposed sanctions on one financial entity in Hong Kong and one person linked to Iran’s Bank Melli, according to a notice posted on the Department of the Treasury’s website.
The moves come after US President Donald Trump announced what he called the “most crushing economic operation” against Iran earlier this month, and threatened countries and entities doing business with Iran – most notably Russia and China.
“ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS Economic Consequences,” the US president wrote on Truth Social. https://thecradle.co/articles-id/39649
While various nations will suffer from USA steps, it is the USA that will “face TREMENDOUS Economic Consequences” because of its dollar weaponization.
This will help bolster other currencies, such as the euro.
European leaders have been working for years to establish a new reserve currency for the world, partially with the intent to remove the USA dollar from its current position as a reserve currency.
Those in Russia, Iran and some of the Arab lands, along with nations such as Brazil and India have discussed plans for the removal of the dominance of the USA dollar in global trade as well. Many are now working on that, along with China, in what is called the BRICS alliance.[i] While Donald Trump did not cause all of this, an unintended consequence of the use of sanctions in the Trump-Pence Administration (as well as by the Biden-Harris Administration) is that more nations are looking to bypass the dollar. …
A modern reality is that being the world’s de facto reserve currency has helped prolong the USA’s dominance.
When the U.S. dollar is no longer the world’s reserve currency, this will hurt the USA financially. Increasing debt, including “quantitative easing,” is a form of dishonest profits that is not something that God approves of and will punish the USA for (cf. Ezekiel 22:13-16). …
Let me add that after 45th President Trump added sanctions against Russia, I warned of unintended consequences of that, including harm to the US dollar.[ii] …
The increases in America’s debt are leading the world into the time when something other than the U.S. dollar will be valued as its reserve currency.
The USA and its dollar are at serious risk. …
Pushing tariffs and other policies that foreign nations do not like is contributing to other nations looking to bypass the USA dollar, as well as trade more with each other and less with the USA. This will further push various globalist’s moves forward without the USA. This is also helping set the stage for the coming European Babylonian Beast to dominate international trade.
[i] BRICS Expansion, the G20, and the Future of World Order. Carnegie Endowment for the International Peace, October 9, 2024
[ii] US Sanctions and Tariffs leading to New World Order? YouTube, uploaded by BibleNewsProphecy, August 12, 2018
An unintended consequence of the sanctions and punishments is that other nations will look elsewhere.