The US Treasury Department is considering new regulations that would cut off Swiss bank MBaer's access to the US financial system.

The US Department of the Treasury stated that, under a proposed rule, MBaer Merchant Bank AG's access to the US financial system would be cut off due to its provision of financial support to illegal actors associated with Russia and Iran. The US side stated that, if the rule is finalized, it would prohibit US financial institutions subject to the rule from opening or maintaining correspondent accounts for MBaer or on behalf of MBaer. The rule was proposed by the Financial Crimes Enforcement Network under the Department of the Treasury.