The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has sanctioned Russian financial institution VTB Bank for its continued involvement in assisting Iranian sanctions evasion. VTB is known to have over one thousand branches worldwide.
\n\n“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,” said Treasury Secretary Scott Bessent. “Treasury will not tolerate any support to the regime and will continue to identify, expose, and isolate Iran’s enablers.”
\n\nThe action against VTB is being taken pursuant to Executive Order (E.O.) 13902 which targets certain sectors of the Iranian economy, including Iran’s financial sector. VTB is now among the most comprehensively sanctioned financial institutions in the world, the Treasury Department said.
\n\nBessent promoted Operation Economic Outcast at the G20 Finance Ministers meeting earlier this month in Asheville, North Carolina, warning the Iranian regime that Treasury knew who they were working with and where their assets were being held.
\n\nThere is “no safe haven,” as Bessent has said, and Treasury continues to work to shut down lifelines into Iran’s financial system.
\n\nPer today’s announcement, foreign financial institutions that continue to deal…
Original source: https://www.breitbart.com/economy/
