US hits major Russian bank VTB with Iran-linked sanctions

WASHINGTON – The United States on Monday slapped new sanctions on VTB Bank, one of Russia’s largest financial institutions, accusing it of helping Iran evade sanctions. The state-controlled lender becomes one of the biggest global names yet caught up in Washington’s campaign to squeeze Iran’s economy amid faltering efforts to end the nearly seven-month-old US-Iran conflict as new flashpoints emerge in Yemen and Saudi Arabia. Details: The US Treasury Department’s Office of Foreign Assets Control designated VTB under Executive Order 13902 for operating in Iran’s financial sector and establishing correspondent banking relationships with sanctioned Iranian banks. The Russian state-owned bank…