Russia's VTB bank has been sanctioned by the United States for helping Iran circumvent restrictions
Kyiv • UNN
The United States imposed sanctions on VTB for helping Iran circumvent restrictions. The bank facilitated the transfer of frozen assets and settlements in rubles and rials.
The U.S. Department of the Treasury added Russia’s VTB Bank to its Iran sanctions list for assisting Tehran in circumventing U.S. restrictions. The decision was made as part of the "Economic Outcast" operation, the U.S. Treasury reports, UNN writes.
Details
According to the U.S. agency, VTB established correspondent relationships with sanctioned Iranian banks and, in January 2025, took steps to expand its presence in Iran.
The United States claims that the Russian bank was involved in moving billions of dollars in frozen Iranian assets. VTB also helped create a settlement system in national currencies through correspondent accounts in Iranian rials and Russian rubles.
As part of the "Economic Outcast" operation, the Treasury Department will continue to pursue and disrupt the activities of those providing material, technological, or financial support that enables the Iranian regime to maintain its terrorist activities
The new restrictions became part of the U.S. campaign to increase financial pressure on Iran and entities that, according to Washington, help Tehran circumvent sanctions.