UAE Sanctions Iranian Bank Melli Branches Over Compliance Violations

The UAE central bank has prohibited all Bank Melli Iran branches in the country from conducting financial transactions to or from Iran, citing violations of anti-money laundering and counter-terrorism financing regulations. This marks a notable tightening of UAE enforcement against Iranian financial networks, potentially signaling alignment with international sanctions pressure. The move could disrupt trade financing flows between Iran and the UAE, a key transshipment hub.