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US Treasury Cites UAE and Regional Curbs in Iran Economic Isolation Drive

US Treasury Secretary Scott Bessent claimed that global diplomatic efforts to economically isolate Iran are showing results following recent banking and aviation curbs. The UAE has suspended all flights by Iranian airlines and blocked transactions through local branches of Iran's Bank Melli. Turkey and Oman have halted Mahan Air flights, while smaller Iranian carriers continue operating routes to China.

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Issuing authority
Central Bank of the UAE
Jurisdiction
United Arab Emirates
Publication date
September 23, 2026
Effective date
September 23, 2026
Stage
Final rule
Official source
news.google.com
Cargo ship loaded with shipping containers docked at a modern maritime terminal with cranes and warehouses

US Treasury Secretary Scott Bessent stated on September 26, 2026, that global teams dispatched by Washington to push foreign governments to isolate Iran economically are yielding results, pointing to expanding measures against Iranian airlines and financial institutions.

According to Bessent, the United Arab Emirates has halted all flights operated by Iranian airlines, impacting Dubai's position as a prominent regional commercial and travel hub for Iranian businesses and travelers. Turkey and Oman have also stopped incoming flights by private Iranian carrier Mahan Air.

On the banking front, Bessent highlighted that the Central Bank of the UAE blocked transactions to and from Iran conducted through branches of Iran's Bank Melli, citing violations of regulations governing money laundering, terrorism financing, and weapons proliferation. In addition, Turkey revoked the operating license of Iran's Bank Mellat.

A Wall Street Journal report cited by Bessent noted that Jonathan Burke, the US Treasury's assistant secretary for terrorist financing, visited countries across the Middle East and Europe over two weeks to advance Washington's campaign, engaging with more than 50 nations. Despite US efforts to shut down Iranian air services globally, smaller Iranian carriers continue to maintain international flights, particularly to China.

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