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Citi Evacuates Middle East Offices Amid Iran Threats
US banks on high alert as crisis in Iran escalates, leading to heightened security measures.
Published on Mar. 11, 2026
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Citigroup has evacuated multiple offices in the United Arab Emirates after reports of threats from Iranian military leaders toward financial institutions in the region. The move comes as US banks, including JPMorgan and BlackRock, are closely monitoring the worsening crisis in Iran and taking steps to ensure the safety of their employees.
Why it matters
The evacuation of Citi's UAE offices highlights the growing tensions between the US and Iran, which have escalated in recent weeks. As a major financial center, the UAE is a key strategic location for global banks, and any disruption to operations there could have broader implications for the banking industry.
The details
Citi said it has implemented a "fully remote model" for all its UAE-based employees as it assesses the situation. The bank had previously instructed employees to work from home, but Wednesday's move to evacuate three of its buildings represents an escalation of security measures. Other major US banks, including JPMorgan and BlackRock, are also closely monitoring the crisis and taking steps to ensure the safety of their personnel in the region.
- On Wednesday, Iranian military leaders warned they would attack banks and financial institutions in the region.
- In late February, US strikes on Iran resulted in the death of longtime Supreme Leader Ali Khamenei.
The players
Citigroup
A major American multinational investment bank and financial services corporation.
JPMorgan
A leading global financial services firm and one of the largest banks in the United States.
BlackRock
The world's largest asset management firm, with over $9 trillion in assets under management.
Ali Khamenei
The former Supreme Leader of Iran, who was killed in US strikes in late February 2026.
What’s next
Citi and other banks will continue to closely monitor the situation in the Middle East and take any necessary steps to ensure the safety of their employees and the continuity of their operations.
The takeaway
The evacuation of Citi's UAE offices underscores the heightened tensions between the US and Iran, and the potential impact on the global banking industry. As the crisis in the region continues to unfold, banks will need to remain vigilant and prioritize the safety of their personnel while also maintaining their critical financial services.
