The US on Monday imposed new sanctions on Russia's VTB Bank over its financial ties to Iran, accusing the country's second-largest financial institution of helping Tehran to evade restrictions.The measures against the heavily sanctioned lender are the latest by the US to isolate Iran's economy. Treasury Secretary Scott Bessent has been pushing European and Gulf partners to hit sources of the Iranian regime's revenue.Mr Bessent last week said the Treasury would impose sanctions on a “large bank” this week, although he did not identify which lender.“Under Operation Economic Outcast, Treasury will continue to target and disrupt those who provide material, technological or financial support that allows the Iranian regime to sustain its terrorist enterprise,” he said in a statement. “Treasury will not tolerate any support to the regime and will continue to identify, expose and isolate Iran’s enablers.”Mr Bessent announced the latest target in US President Donald Trump's maximum pressure campaign against Iran last month. The Treasury Department at the time said it was also broadening the scope of its secondary sanctions campaign, threatening to cut off the dollar access to institutions that continue to do business with Iran.The U.S. sanctioned VTB Bank for helping Iran evade sanctions and finance terrorism—opening offices in Iran, building ties with sanctioned Iranian banks, and movi...
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