US Treasury Highlights Iran Economic Isolation as UAE Restricts Banking and Aviation

US Treasury Secretary Scott Bessent stated on social media platform X that Washington's international pressure campaign, conducted under Operation Economic Outcast, is accelerating Iran's economic isolation. Bessent reported that US delegations dispatched overseas to engage foreign governments have successfully urged multiple partners to cut economic lifelines connected to Tehran.

According to Bessent, the United Arab Emirates has halted all flights operated by Iranian carriers, while Oman and Türkiye have barred incoming flights by Iran's Mahan Air. Bessent also noted that leading commercial banking institutions in both the UAE and Türkiye have ceased transacting with Iranian entities.

The statements follow regulatory actions taken by the Central Bank of the UAE, which prohibited all domestic branches of Iran's Bank Melli from conducting financial transactions to and from Iran. The UAE central bank's restrictions cover trade financing and cross-border fund transfers, citing regulatory violations concerning anti-money laundering, counter-terrorism financing, and proliferation financing laws.

Regional actions have also expanded to Türkiye, where regulators revoked the operating licence of Bank Mellat's Istanbul branch. Media reports citing The Wall Street Journal indicated that US Assistant Treasury Secretary for Terrorist Financing Jonathan Burke conducted diplomatic visits across the Middle East and Europe, as US officials held discussions with more than 50 countries to coordinate economic restrictions.