UANI Applauds U.S. Sanctions on Russia’s VTB Bank

UANI Issued Warning to VTB in 2025

(New York, NY) – Today United Against Nuclear Iran (UANI) applauded the Trump administration for the recent sanctioning of Russia’s VTB Bank as part of Operation Economic Outcast.

VTB has long been suspected of facilitating Iranian sanctions evasion. UANI wrote to VTB in March 2025 seeking answers about the bank’s reported efforts to establish correspondent banking relationships with the Central Bank of Iran (CBI) and six other Iranian banks subject to U.S. sanctions: Bank Melli, Bank Tejarat, Bank Mellat, Sina Bank, Pasargad Bank, and Bank-e Shahr. In that letter, UANI warned:

"The strengthening of banking ties between VTB Bank and Iranian banks and the potential financial facilitation of future arms deals—including the provision of drones—is a definite cause for concern and places VTB bank at significant risk of exposure to additional sanctions."

Russia has become ever-more critical to Iran’s efforts to circumvent banking sanctions and maintain its access to foreign currency and commerce. Scrutiny of Russian financial institutions is vital. As part of wider U.S. efforts targeting Russia’s economy and financial systems, VTB Bank was designated in 2025 under E.O. 13662 and in 2022 under E.O. 14024, and is already subject to comprehensive sanctions and asset freezes. 

Today, UANI Research Director Daniel Roth said:

"We applaud Treasury for its actions against VTB Bank. They should be a warning to every financial institution helping facilitate business with Iran. 

"VTB’s efforts to support the Islamic Republic are especially regrettable given that UANI commended VTB’s retail subsidiary in 2012 for closing the accounts of Iranian embassy staff in Moscow. In any event, UANI will continue to expose the entities and individuals that provide the Iranian regime with access to the international financial system."

To read UANI’s March 11, 2025, letter to VTB, click here.

To read UANI’s March 2, 2012, statement on VTB 24, click here.