U.S. Treasury proposes severing a Swiss bank from the U.S. financial system over Iran and Russia links

The Treasury is proposing to sever the Swiss bank MBaer from the U.S. financial system. The U.S. Treasury Department on Thursday said it's proposing to sever a Swiss bank from the U.S. financial system over alleged illicit ties to Russia and Iran. Treasury Secretary Scott Bessent said MBaer Merchant Bank, based in Zurich...