The U.S. Treasury Department announced on Monday, 23 Shahrivar that it has sanctioned Russia’s VTB Bank in connection with Iran.

In a statement released by the U.S. Treasury Department, the bank is described as being “sanctioned due to its involvement in circumventing Iran sanctions.”

VTB Bank had previously been sanctioned in 2022 as part of measures related to Ukraine.

U.S. Treasury Secretary Scott Bessent also wrote on the X network that the U.S. Treasury Department has launched a plan to cut off all financial routes of the Iranian government and those who help it.

Bessent added: “People who have information about those who help provide financing for and carry out Iran’s terrorist activities should report it.”