The UAE central bank on Wednesday ordered the closure of all Bank Melli branchs in the Emirates, citing regulatory violations. The bank is a primary financial arm of Iran's Islamic Revolutionar Guard Corps (IRGC) and a key node in Iran's international financial network.
The UAE central bank's move is the latest in a growing campaign of economic pressure against the Islamic Republic. As The Zioneer has reported, the US Treasury previously ordered the closure of all Bank Melli branches worldwide as part of 'Operation Economic Outcast.' The UAE had also suspended economic and financial transactions with Iran in August, severing a critical node in Iran's trade route. Bank Melli has been a repeated target of cyberattacks, with disruptions reported twice in June 2026. Wednesday's prohibition directly strikes at Iran's ability to move money through the Gulf, further isolating a regime already under severe fiscal strain.
- StrongUS Treasury Secretary reportedly orders closure of all IRGC-linked Bank Melli branches worldwide
- DevelopingReport: UAE severs commercial ties with Iran after IRGC strikes on tankers
- DevelopingWSJ: UAE announces suspension of economic and financial transactions with Iran
- StrongIRGC missile attacks on tankers disable Fujairah port in UAE
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