Washington sanctions Iran and Egypt bank

The United States has imposed new sanctions on Iran, targeting an individual associated with the Melli Bank of Iran and an entity in Hong Kong, in addition to restricting branches of Bank Misr in the United Arab Emirates, in an effort to increase economic pressure on Iran. These measures come as part of an escalation in sanctions following threats from the U.S. Treasury Secretary to take further actions, amid ongoing hostilities and warnings of secondary sanctions against countries dealing with Tehran. Iran responded to the sanctions by calling them "state terrorism," while diplomatic efforts continue to reopen the Strait of Hormuz, through which 20% of global oil supplies passed before the war began.

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