The US sanctions Russia’s second-largest bank / Washington accuses VTB Bank of helping Iran evade sanctions

The United States imposed sanctions on Monday against VTB Bank, Russia’s second-largest bank, accusing the institution of involvement in evading US sanctions targeting Iran. The decision was announced by the Treasury Department and expands measures adopted against VTB in 2022, following Russia’s invasion of Ukraine.

Treasury Secretary Scott Bessent said the US administration would continue to sanction individuals and entities providing material, technological or financial support to the Iranian regime. The official warned that institutions facilitating Tehran’s activities would be identified, exposed and isolated.

The new measures are part of Washington’s campaign of economic pressure against Iran. In recent months, the United States has sanctioned oil exports, maritime shipping networks, weapons procurement channels, financial intermediaries, digital asset exchange platforms and air links.

Last week, Bessent announced that President Donald Trump’s administration was preparing to sanction a major bank. According to the US official, the measures aim to persuade Tehran to end its conflict with the United States, now in its sixth month. Trump recently said the war would not end before the November congressional elections, but “immediately after” the vote.