Treasury hits Russia's VTB Bank with new sanctions over Iran ties
The new Russian bank sanctions follow a small handful of other actions that the Trump administration has taken since vowing to inflict "economic D-Day" on Iran.
TL;DR
- The U.S. Treasury Department sanctioned Russia's VTB Bank for allegedly assisting Iran in evading sanctions.
- The sanctions are part of "Operation Economic Outcast," aimed at economically isolating Iran.
- VTB Bank is Russia's second-largest bank and has previously been sanctioned by the U.S.
- The new sanctions could indirectly affect China, a major buyer of Iranian oil and VTB's only Russian bank with a branch in China.
- Treasury Secretary Scott Bessent stated the U.S. will continue to target entities supporting Iran's regime.