US imposes new Iran sanctions on Russia's VTB Bank

The United States has imposed new Iran-related sanctions on Russia's VTB Bank, accusing the financial institution of helping Tehran evade sanctions and move billions of dollars in assets. The U.S. Treasury Department announced the designation on Monday, September 14, 2026, stating that VTB established correspondent relationships with sanctioned Iranian banks, opened offices in Iran, and created a settlement system using Iranian rials and Russian rubles. The action places VTB on the Specially Designated Nationals and Blocked Persons list under Executive Order 13902, triggering a full asset freeze on any U.S.-jurisdiction property and a blanket prohibition on American persons or entities transacting with the bank. Treasury Secretary Scott Bessent said the U.S. will continue to target and disrupt those who provide material, technological, or financial support that allows the Iranian regime to sustain its terrorist enterprise. The designation is part of a broader campaign called Operation Economic Outcast, which also targeted a Turkish bank and Iranian airlines. The operation aims to disrupt financial networks enabling Iran to circumvent international sanctions. The U.S.