The US Treasury Department announced sanctions on Russia’s VTB Bank, a large state-owned financial institution operating in Iran, accusing it of “involvement of Iranian sanctions evasion”, according to a statement, and for “establishing correspondent relationships with sanctioned Iranian banks.”
– The measures are aimed at targeting and disrupting “those who provide material, technological, or financial support that allows the Iranian regime,” said Scott Bessent, US Treasury Secretary.
– Russia’s VTB Bank is one of Russia’s largest state-controlled banks which has been faced with extensive US and Western sanctions due to Russia’s invasion of Ukraine in 2022.
– The newly announced Treasury sanctions related to Iran add more restrictions on the bank and puts anyone doing business with the bank at risk.
– The US Treasury Department says VTB Bank is “now among the most comprehensively sanctioned financial institutions in the world.”
https://aje.news/jm4ix2?update=4950669