The United States sanctioned VTB Bank, one of Russia's largest financial institutions, for helping Iran evade sanctions and sustain its support for terrorism. VTB Bank opened offices in Iran, built banking ties with sanctioned Iranian financial institutions, 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.
Today's action sends a clear message to governments and financial institutions considering similar arrangements: any effort to help Iran evade sanctions will carry serious consequences, including exposure to U.S. financial restrictions.
The United States will continue to use every diplomatic and economic tool at its disposal to isolate the Iranian regime. We urge the international community to join this effort to sever the financial lifelines of a regime that threatens peace and security.
Today's action is being taken pursuant to Executive Order (E.O.) 13902, which targets the financial sector of Iran's economy and advances Operation Economic Outcast-a campaign to completely isolate the regime from the financial lifelines that sustain its malign behavior. Please see the Department of the Treasury's Press Release.
