US slams VTB Bank's efforts to circumvent sanctions with Iran

In the statement made by the ministry, it was stated that VTB Bank was involved in activities aimed at Iran evading sanctions, including establishing correspondent banking relationships with sanctioned Iranian banks.

In the statement, it was stated that VTB Bank is now among the most comprehensively sanctioned financial institutions in the world, and it was warned that foreign financial institutions that continue to conduct transactions with this bank face a higher risk of sanctions and should immediately terminate such relations.

In the statement, it was stated that VTB Bank opened bank offices in Iran in recent years in order to formalize closer banking coordination with the Iranian regime and expand trade between the two countries. It was claimed that the bank established correspondent banking relations with sanctioned Iranian financial institutions in the last three years and started to take steps to increase its presence in Tehran in January 2025.

In the statement, it was claimed that VTB Bank took steps to transfer billions of dollars of frozen Iranian assets and created a payment system that allows transactions in national currencies through correspondent accounts in Iranian rials and Russian rubles in order to increase bilateral trade.

US Treasury Secretary Scott Bessent, whose views were included in the statement, stated that within the scope of the "economic exclusion operation" against Iran, the US Treasury Department will continue to target and disrupt those who provide material, technological or financial support that allows the country to continue its activities, which it defines as "terrorism".

Bessent emphasized that the US Treasury Department will not tolerate any support for the Iranian regime and will continue to identify, expose and isolate its supporters.