Washington, Sept. 15 -- The United States on Monday announced new restrictive measures against Russia's VTB Bank, alleging that the prominent financial entity assisted Tehran in bypassing American restrictions and transferring billions of dollars in Iranian funds. The institution was previously subjected to comprehensive blocking measures by Washington in 2022 following the escalation of the conflict in Ukraine.

The US Treasury Department indicated that the updated penalties focus on VTB's operational links with Iran, including "establishing correspondent relationships with sanctioned Iranian banks".

Additionally, Washington cautioned global banking institutions against maintaining business associations with the Russian financial entity...