VTB Bank

Banking
MCX: VTBR
Russia
http://www.vtb.com

 

[email protected]

Designated by the U.S. Treasury Department "for its involvement in Iranian sanctions evasion, including establishing correspondent relationships with sanctioned Iranian banks." ("Operation Economic Outcast Sanctions Major Bank Helping Iran Evade Sanctions," U.S. Department of the Treasury, September 14, 2026)

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"In a significant development, VTB's CEO announce in January 2025 that the bank's representative office in Iran will be upgraded to a full-fledged branch by the end of 2025, paving the way for enhanced trade facilitation and expansion between Russia and Iran. Documents leaked from the Mostazafan Foundation also reveal that VTB Bank has made significant progress in establishing a presence in Iran. The bank has reportedly finalized correspondent agreements with the Central Bank of Iran (CBI), and was in the process of signing similar agreements with six Iranian commercial banks: Melli, Tejarat, Mellat, Passargad, Shahr and Sina, which is owned and controlled by the Mostazafan Foundation." ("A New Era of Cooperation: Russian VTB Bank’s Efforts to Establish Banking Connections in Iran," WikiIran, February 2025)

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"Iranian banks have linked up with Oman's Bank Sohar, Russia's VTB Bank, Bank Sepah's Frankfurt branch, Austria's Raiffeisen Bank International AG, the Qatar National Bank and Russia's Swiss-registered Gazprombank in recent months." ("Iranian Banks Link Up With More Int’l Peers," Financial Tribune, February 12, 2018)
 

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Noted for conducting business with Iranian banks (Avi Jorisch, "Iran's Dirty Banking")

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"Sajjadi said on Friday that the shutdown had been ordered at short notice by VTB24, the retail banking arm of Russia's second-largest bank VTB, and that his own credit card had been blocked. The closure of the embassy staff's personal accounts, confirmed by VTB24, comes as Washington steps up efforts to block Iran's ability to conduct financial transactions and force it to the negotiating table over its nuclear programme. In a blog post headlined "VTB24 surrenders to the mercy of the USA" Sajjadi wrote that the bank had told embassy staff on Thursday to close their accounts by the end of the working day on Friday, or risk losing their deposits... A spokesman for VTB24, one of the largest retail banks in Russia, said it had informed the embassy in good time of its decision, which was made for business reasons." ("Russian bank shuts down Iranian embassy accounts," Reuters, March 2, 2012)