Trump Admin Targets One of Russia’s Largest Banks for Supporting Iran
The Treasury Department said VTB opened offices in Iran and moved billions of dollars in Iranian assets, widening pressure on Tehran and its proxies.
- On Monday, the Treasury Department sanctioned VTB Bank for allegedly helping Iran evade sanctions, seeking to cut off financial support for Tehran. This designation adds to penalties imposed since Russia's 2022 invasion of Ukraine.
- VTB Bank built banking ties with sanctioned Iranian institutions and worked to move billions of dollars in assets, according to the Treasury Department. The bank is now among the most comprehensively sanctioned financial institutions worldwide.
- As part of "Operation Economic Outcast," the administration threatened dire consequences for those supporting Iran, including exclusion from the US dollar system. Foreign institutions face increased sanctions risk for continuing to deal with VTB.
- The Treasury Department said Monday it will meet this week with global financial institutions to share information on shutting down revenue streams tied to the Iranian regime and the IRGC. Officials will warn of increased risks.
- Recent measures include actions against Iran's airline industry and banks in Dubai and Egypt, with proposed restrictions on United Arab Emirates branches of Banque Misr. Experts remain skeptical regarding potential action against Beijing ahead of Jinping's expected visit to Washington this month.
42 Articles
42 Articles
U.S. sanctions Russia’s VTB Bank over Iran sanctions evasion
The U.S. Treasury Department has imposed new Iran-related sanctions on VTB Bank, one of Russia’s largest financial institutions, accusing it of helping Tehran evade sanctions and expand trade with Moscow. The U.S. Treasury said on Monday that VTB Bank established correspondent banking relationships with already-sanctioned Iranian banks, opened offices in Iran and created a settlement […]
The U.S. has imposed sanctions against the Russian VTB for helping Iran circumvent the restrictions, as reported by the U.S. Ministry of Finance.
<p>Russian bank VTB came under US sanctions for helping Iran circumvent restrictions The US imposed sanctions against VTB for helping Iran circumvent restrictions. The bank facilitated the transfer of frozen assets and settlements in rubles and riyals</p>.
(Washington = Yonhap News) Correspondent Lee Yu-mi = The U.S. Donald Trump administration designated the Russian bank VTB, which helped Iran evade sanctions, as a target for sanctions on the 14th...
The US Treasury Department "will not tolerate any form of support for the regime and will continue to identify, expose, and isolate Iran's supporters," it said in a press release.
Coverage Details
Bias Distribution
- 50% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
