Washington, D.C., September 15 (ANI): The United States on Monday announced new restrictive measures against Russia’s VTB Bank, alleging that the prominent financial institution assisted Tehran in bypassing American restrictions and transferring billions of dollars in Iranian funds. The institution was previously subjected to comprehensive blocking measures by Washington in 2022 following the escalation of the conflict in Ukraine.
The U.S. Treasury Department indicated that the updated penalties focus on VTB’s operational links with Iran, including “establishing correspondent relationships with sanctioned Iranian banks.”
Additionally, Washington cautioned global banking institutions against maintaining business associations with the Russian financial entity, strongly advising them to sever all ties.
The U.S. State Department noted that VTB established physical branches in Iran, forged financial connections with sanctioned Iranian entities and “worked to move billions of dollars in Iranian assets.”
“The United States remains steadfast in cutting off the financial lifelines that allow the Iranian regime to fund terrorism, destabilize the region, and threaten U.S. economic security,” the department stated.
Officials added that the measure serves as a stern warning to states and financial institutions exploring similar partnerships.
“Any effort to help Iran evade sanctions will carry serious consequences, including exposure to U.S. financial restrictions,” the State Department announced.
The latest punitive steps coincide with intensified financial pressure exerted by Washington on Tehran amid the ongoing conflict in West Asia. Hostilities erupted following joint American and Israeli military actions against Iran in late February, prompting Iranian authorities to restrict maritime traffic through the Strait of Hormuz, a vital channel for international energy transit.
VTB was among the major Russian financial institutions penalized by Washington following the 2022 invasion of Ukraine. At that juncture, the Treasury Department imposed “full blocking sanctions,” freezing assets held within U.S. jurisdiction and blocking access by the Kremlin.
During that period, the department characterized VTB as “one of the largest financial institutions Treasury has ever blocked.”
The recent measures form part of a broader American campaign to intensify economic constraints on Iran. U.S. Treasury Secretary Scott Bessent has described the initiative as an “economic D-Day,” with Washington similarly focusing on external entities such as Turkey’s Golden Global Bank.
The State Department affirmed that the U.S. will persist in deploying diplomatic and economic instruments to isolate Tehran, while encouraging international partners to assist in efforts to “sever the financial lifelines” of the Iranian administration. (ANI)
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