US Strengthens Sanctions Against Russia’s Second-Largest Bank
The United States has expanded sanctions restrictions against Russian state bank VTB, adding new measures to existing packages due to the financial institution's close cooperation with Iran. UATV English reports this, citing Reuters . Russia's second-largest lender actively helped Tehran evade Western sanctions. According to the US Treasury Department, VTB opened official representative offices…
The United States has intensified sanctions on Russian state bank VTB, adding new measures to existing packages due to the financial institution's close ties with Iran. VTB played a significant role in helping Tehran circumvent Western sanctions, according to the US Treasury Department. The bank opened official offices in Iran, established relationships with sanctioned Iranian banks, and created special financial channels for transactions involving frozen Iranian assets.
These actions resulted in billions of dollars moving through VTB. US Treasury Secretary Scott Bessent emphasized that these new restrictions complement the blocking sanctions imposed in 2022 following Russia's invasion of Ukraine. The Treasury Department vowed to continue preventing any material, technological, or financial support to the Iranian regime.
Foreign banks and companies doing business with VTB risk facing secondary US sanctions as well. The European Union has also extended its sanctions against Russia until September 22.
Written by urgent.news from UATV English's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
