US Slams Russia's VTB Bank with New Sanctions over Iran Ties
The US Treasury Department has imposed new sanctions on Russia's VTB Bank as part of its efforts to economically isolate Iran. The bank, already sanctioned in 2022 and early 2025, is accused of helping Tehran evade sanctions by establishing correspondent relationships with Iranian banks.
The new financial action is expected to block tens of millions of dollars and makes VTB 'among the most comprehensively sanctioned financial institutions in the world', according to the Treasury. The bank's ties to Iran have raised concerns about its impact on China, which is the top buyer of Iranian oil.
Tobin Marcus, head of U.S. policy and politics at Wolfe Research, questioned the effectiveness of the new sanctions, noting that VTB has already been significantly sanctioned. 'The devil does tend to be in the details,' he said.