VTB Bank sanctioned by US for aiding Iran's sanctions evasion

VTB Bank US sanctions Iran sanctions evasion Operation Economic Outcast Scott Bessent

The US Treasury Department has imposed new sanctions on VTB Bank, Russia’s second-largest financial institution, as part of the Trump administration’s ‘Operation Economic Outcast’ aimed at curbing Iran’s financial capabilities.

According to US officials, VTB facilitated the evasion of sanctions by establishing correspondent relationships with sanctioned Iranian banks, opening physical branches in Iran, and managing the movement of billions of dollars in Iranian assets. The bank reportedly developed a payment system using Iranian rials and Russian rubles to streamline trade between the two nations.

Treasury Secretary Scott Bessent emphasized that the US will continue to target entities providing material, technological, or financial support to the Iranian regime. The US has warned international financial institutions that maintaining ties with VTB poses a significant risk of secondary sanctions, which could result in the loss of access to the US financial system. VTB, which was previously sanctioned in 2022 following the invasion of Ukraine, is now among the most comprehensively sanctioned financial institutions globally.

Entities

Donald Trump · Iran · Russia · Scott Bessent · US Treasury Department · United States Department of State · United States Department of the Treasury · VTB Bank

Claims

What the coverage asserts, and how many sources carry each claim.

[● 2 SOURCES] The latest sanctions are part of the administration’s ‘Operation Economic Outcast’ campaign. arabic.cnn.com · news.az
[● 3 SOURCES] VTB Bank opened offices in Iran and built banking ties with sanctioned Iranian financial institutions. arabic.cnn.com · www.news18.com
[○ 1 SOURCE] VTB created a settlement system using rial- and ruble-denominated accounts to increase trade between Russia and Iran. news.az
[● 5 SOURCES] VTB Bank worked to move billions of dollars in Iranian assets. arabic.cnn.com · www.finanzen.at · www.finanzen.ch · www.news18.com
[● 3 SOURCES] VTB Bank had previously been sanctioned in 2022 due to the invasion of Ukraine and in early 2025 for sanctions evasion. arabic.cnn.com · www.news18.com
[● 9 SOURCES] Foreign financial institutions that continue to deal with VTB face increased risk of sanctions. arabic.cnn.com · www.news18.com · www.benguturk.com · www.haberaktuel.com · 24-ore.com · +2 more
[● 24 SOURCES] The US Treasury Department designated VTB Bank under Executive Order 13902 for operating in Iran’s financial sector. news.az · contrapodernews.com · 24-ore.com · www.benguturk.com · www.haberaktuel.com · +18 more
[● 4 SOURCES] VTB established a representative office in Tehran in 2023. news.az · www.benguturk.com · www.internethaber.com · sana.sy
[● 20 SOURCES] The US State Department accused VTB Bank of helping Iran evade sanctions. www.benguturk.com · www.haberaktuel.com · www.internethaber.com · arabic.cnn.com · www.finanzen.at · +14 more
[● 15 SOURCES] VTB Bank allegedly attempted to transfer billions of dollars in frozen Iranian assets. www.benguturk.com · www.internethaber.com · www.haberaktuel.com · arabic.cnn.com · www.finanzen.at · +7 more
[● 13 SOURCES] Treasury Secretary Scott Bessent stated the US will continue to target those providing support to Iran's activities. www.benguturk.com · www.internethaber.com · news.az · www.index.hr · 24-ore.com · +8 more
[● 11 SOURCES] VTB Bank opened offices in Iran to expand trade and coordinate banking with the Iranian regime. www.benguturk.com · www.haberaktuel.com · www.internethaber.com · contrapodernews.com · 24-ore.com · +5 more