US Treasury adds Russia's VTB Bank to Iran-related sanctions list

The United States Department of the Treasury has placed Russian lender VTB Bank onto its Iran-related sanctions list, according to an official statement issued by the US financial authority.

VTB has been subject to Washington's sectoral sanctions since they were first introduced against the bank in 2014, followed by full blocking measures in 2022. Under the latest designation administered by the Office of Foreign Assets Control (OFAC), the financial institution was targeted for allegedly facilitating the evasion of existing US restrictions imposed against Tehran.