Washington sanctions Russian bank VTB for aiding Iran's sanctions evasion

The United States has imposed sanctions on Russia's VTB Bank for helping Iran evade sanctions and finance terrorism.

• The US Treasury designated VTB under Executive Order 13902, citing its correspondent banking ties with sanctioned Iranian banks, offices in Iran, and transfers of billions in Iranian assets.
• Treasury Secretary Scott Bessent said the Treasury will continue targeting entities providing material, technological, or financial support enabling Iran's terrorist activities.
• The Treasury warned foreign financial institutions continuing to deal with VTB they will face increased sanctions risk, and urged them to end those relationships immediately.
• State Department spokesman Tommy Pigott said the sanctions stem from VTB's role in helping Iran circumvent sanctions and finance terrorism.