Iran-related Designation; Issuance of Amended Venezuela-related General License and Frequently Asked Question

Treasury Press Release: Operation Economic Outcast Sanctions Major Bank Helping Iran Evade Sanctions

State Press Release: U.S. Sanctions VTB Bank for Aiding Iran’s Sanctions Evasion

Amendments:

The following changes have been made to OFAC’s SDN List:

• OFAC Programs:
  • [UKRAINE-EO13662]  Executive Order 13662
  • [IRAN-EO13902]  Executive Order 13902
  • [RUSSIA-EO14024]  Executive Order 14024

VTB BANK PUBLIC JOINT STOCK COMPANY (Cyrillic: БАНК ВТБ ПУБЛИЧНОЕ АКЦИОНЕРНОЕ ОБЩЕСТВО)

• AKA:
  • BANK FOR FOREIGN TRADE OF RSFSR
  • BANK OF FOREIGN TRADE OF THE RUSSIAN FEDERATION
  • BANK VNESHEI TORGOVLI OAO
  • BANK VNESHNEI TORGOVLI ROSSISKOI FEDERATSII AS A PRIVATE JOINT STOCK COMPANY
  • BANK VNESHNEI TORGOVLI RSFSR
  • BANK VNESHNEY TORGOVLI JOINT STOCK COMPANY
  • BANK VNESHNEY TORGOVLI OPEN JOINT STOCK COMPANY
  • BANK VNESHNEY TORGOVLI ROSSIYSKOY FEDERATSII CLOSED JOINT STOCK COMPANY
  • BANK VTB OAO
  • BANK VTB OPEN JOINT STOCK COMPANY
  • BANK VTB PAO
  • BANK VTB PUBLICHNOE AKTSIONERNOE OBSHCHESTVO
  • CJSC BANK FOR FOREIGN TRADE OF THE RUSSIAN FEDERATION
  • JSC VTB BANK
  • OAO BANK VTB
  • OAO VNESHTORGBANK
  • OJSC CJSC BANK FOR FOREIGN TRADE
  • RUSSIAN VNESHTORGBANK
  • VNESHTORGBANK
  • VNESHTORGBANK OF RSFSR
  • VNESHTORGBANK ROSSII CLOSED JOINT STOCK COMPANY
  • VTB BANK
  • VTB BANK OAO
  • VTB BANK OPEN JOINT STOCK COMPANY
  • VTB BANK PAO
  • VTB BANK PJSC (Cyrillic: БАНК ВТБ ПАО)
  • VTB BANK PJSC SHANGHAI BRANCH
  • "JSC VTB BANK NEW DELHI BRANCH"
• Address:
  • 29, Bolshaya Morskaya str., St. Petersburg 190000, Russia
  • 37 Plyushchikha ul., Moscow 119121, Russia
  • 43, Vorontsovskaya str., Moscow 109044, Russia
  • 11 litera, per. Degtyarny, St. Petersburg 191144, Russia
  • 11, lit A, Degtyarnyy pereulok, St. Petersburg 191144, Russia
  • 43, bld.1, Vorontsovskaya str., Moscow 109147, Russia
  • Bashnya Zapad, Kompleks Federatsiya, 12, nab. Presnenskaya, Moscow 123317, Russia
  • str. 1, 43, ul. Vorontsovskaya, Moscow 109147, Russia
  • Vorontsovskaya Str 43, Moscow 109147, Russia
  • The Taj Mahal Hotel, Lobby Mezzanine Floor 1, Mansingh Road, New Delhi 110001, India
  • 1266 Nanjing Xilu Street, Jingan District, Shanghai 200040, China
  • 18 BC, CITIC Building, 19 Jianguomenwai Dajie, Beijing 100004, China
  • Tehran, Iran
• SWIFT/BIC: VTBRRUMM
• Website: http://www.vtb.com
• alt. Website: http://www.vtb.ru
• Additional Sanctions Information: Subject to Secondary Sanctions
• BIK (RU): 044030707
• alt. BIK (RU): 044525187
• Executive Order 13662 Directive Determination: Subject to Directive 1
• Secondary sanctions risk: Ukraine-/Russia-Related Sanctions Regulations, 31 CFR 589.201 and/or 589.209
• alt. Secondary sanctions risk: See Section 11 of Executive Order 14024.
• Organization Established Date: 17 Oct 1990
• Target Type: Financial Institution
• Registration ID: 1027739609391 (Russia)
• Tax ID No.: 7702070139 (Russia)
• Government Gazette Number: 00032520 (Russia)
• License: 1000 (Russia)
• Legal Entity Number: 253400V1H6ART1UQ0N98
• For more information on directives, please visit the following link: http://www.treasury.gov/resource-center/sanctions/Programs/Pages/ukraine.aspx#directives

Supplemental Information: OFAC designated VTB Bank under E.O. 13902 for operating in the financial sector of the Iranian economy, as part of Operation Economic Outcast. Treasury states that the bank opened offices in Iran in recent years to formalize closer banking coordination with the Iranian regime and expand trade between the two countries, and that over the past three years it established correspondent banking relationships with sanctioned Iranian financial institutions. Treasury further states that VTB began taking steps to increase its presence in Tehran in January 2025, has taken steps to move billions of dollars in frozen Iranian assets, and created a national-currency settlement system running through correspondent accounts denominated in Iranian rials and Russian rubles, with the goal of increasing bilateral trade. State’s parallel statement describes the same conduct, citing offices opened in Iran, banking ties built with sanctioned Iranian financial institutions, and work to move billions of dollars in Iranian assets.

The entry now carries three program tags, one for each authority under which VTB has been designated. Treasury recounts that the bank was designated on February 24, 2022 under E.O. 14024 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, the Government of Russia, and for operating in the financial services sector of the Russian Federation economy, and again on January 15, 2025 under E.O. 13662 for operating in that same sector. That second designation was part of a wider January 2025 action in which OFAC re-designated financial services, energy, and defense sector entities under E.O. 13662, a step that subjects foreign persons who knowingly facilitate significant transactions for those entities to mandatory secondary sanctions under CAATSA. Treasury describes VTB as now among the most comprehensively sanctioned financial institutions in the world, and warns that foreign financial institutions that continue to deal with the bank following this designation face greater sanctions risk than before and should cut off those relationships immediately. Operation Economic Outcast was announced by Secretary of the Treasury Scott Bessent on August 24, 2026 and dubbed “Economic D-Day”; today’s action follows recent Treasury actions against banks in Turkey and the UAE.

List of Changes:

• Field Name: AKA
  • Changed: f.k.a. to: a.k.a. for BANK FOR FOREIGN TRADE OF RSFSR
  • Changed: f.k.a. to: a.k.a. for BANK OF FOREIGN TRADE OF THE RUSSIAN FEDERATION
  • Changed: f.k.a. to: a.k.a. for BANK VNESHEI TORGOVLI OAO
  • Changed: f.k.a. to: a.k.a. for BANK VNESHNEI TORGOVLI ROSSISKOI FEDERATSII AS A PRIVATE JOINT STOCK COMPANY
  • Changed: f.k.a. to: a.k.a. for BANK VNESHNEI TORGOVLI RSFSR
  • Changed: f.k.a. to: a.k.a. for BANK VNESHNEY TORGOVLI JOINT STOCK COMPANY
  • Changed: f.k.a. to: a.k.a. for BANK VNESHNEY TORGOVLI OPEN JOINT STOCK COMPANY
  • Changed: f.k.a. to: a.k.a. for BANK VNESHNEY TORGOVLI ROSSIYSKOY FEDERATSII CLOSED JOINT STOCK COMPANY
  • Changed: f.k.a. to: a.k.a. for BANK VTB OAO
  • Changed: f.k.a. to: a.k.a. for BANK VTB OPEN JOINT STOCK COMPANY
  • Changed: f.k.a. to: a.k.a. for CJSC BANK FOR FOREIGN TRADE OF THE RUSSIAN FEDERATION
  • Changed: f.k.a. to: a.k.a. for JSC VTB BANK
  • Changed: f.k.a. to: a.k.a. for OAO BANK VTB
  • Changed: f.k.a. to: a.k.a. for OAO VNESHTORGBANK
  • Changed: f.k.a. to: a.k.a. for OJSC CJSC BANK FOR FOREIGN TRADE
  • Changed: f.k.a. to: a.k.a. for RUSSIAN VNESHTORGBANK
  • Changed: f.k.a. to: a.k.a. for VNESHTORGBANK
  • Changed: f.k.a. to: a.k.a. for VNESHTORGBANK OF RSFSR
  • Changed: f.k.a. to: a.k.a. for VNESHTORGBANK ROSSII CLOSED JOINT STOCK COMPANY
  • Changed: f.k.a. to: a.k.a. for VTB BANK OAO
  • Changed: f.k.a. to: a.k.a. for VTB BANK OPEN JOINT STOCK COMPANY
• Field Name: Address
  • Added: Tehran, Iran
• Field Name: Additional Sanctions Information
  • Added: Subject to Secondary Sanctions
• Field Name: OFAC Program Tags
  • Added: [IRAN-EO13902]

---

The following changes have been made to OFAC’s Sectoral Sanctions Identifications List:

• OFAC Programs:
  • [UKRAINE-EO13662]  Executive Order 13662
  • [IRAN-EO13902]  Executive Order 13902
  • [RUSSIA-EO14024]  Executive Order 14024

VTB BANK PUBLIC JOINT STOCK COMPANY (Cyrillic: БАНК ВТБ ПУБЛИЧНОЕ АКЦИОНЕРНОЕ ОБЩЕСТВО)

• AKA:
  • BANK FOR FOREIGN TRADE OF RSFSR
  • BANK OF FOREIGN TRADE OF THE RUSSIAN FEDERATION
  • BANK VNESHEI TORGOVLI OAO
  • BANK VNESHNEI TORGOVLI ROSSISKOI FEDERATSII AS A PRIVATE JOINT STOCK COMPANY
  • BANK VNESHNEI TORGOVLI RSFSR
  • BANK VNESHNEY TORGOVLI JOINT STOCK COMPANY
  • BANK VNESHNEY TORGOVLI OPEN JOINT STOCK COMPANY
  • BANK VNESHNEY TORGOVLI ROSSIYSKOY FEDERATSII CLOSED JOINT STOCK COMPANY
  • BANK VTB OAO
  • BANK VTB OPEN JOINT STOCK COMPANY
  • BANK VTB PAO
  • BANK VTB PUBLICHNOE AKTSIONERNOE OBSHCHESTVO
  • CJSC BANK FOR FOREIGN TRADE OF THE RUSSIAN FEDERATION
  • JSC VTB BANK
  • OAO BANK VTB
  • OAO VNESHTORGBANK
  • OJSC CJSC BANK FOR FOREIGN TRADE
  • RUSSIAN VNESHTORGBANK
  • VNESHTORGBANK
  • VNESHTORGBANK OF RSFSR
  • VNESHTORGBANK ROSSII CLOSED JOINT STOCK COMPANY
  • VTB BANK
  • VTB BANK OAO
  • VTB BANK OPEN JOINT STOCK COMPANY
  • VTB BANK PAO
  • VTB BANK PJSC (Cyrillic: БАНК ВТБ ПАО)
  • VTB BANK PJSC SHANGHAI BRANCH
  • "JSC VTB BANK NEW DELHI BRANCH"
• Address:
  • 29, Bolshaya Morskaya str., St. Petersburg 190000, Russia
  • 37 Plyushchikha ul., Moscow 119121, Russia
  • 43, Vorontsovskaya str., Moscow 109044, Russia
  • 11 litera, per. Degtyarny, St. Petersburg 191144, Russia
  • 11, lit A, Degtyarnyy pereulok, St. Petersburg 191144, Russia
  • 43, bld.1, Vorontsovskaya str., Moscow 109147, Russia
  • Bashnya Zapad, Kompleks Federatsiya, 12, nab. Presnenskaya, Moscow 123317, Russia
  • str. 1, 43, ul. Vorontsovskaya, Moscow 109147, Russia
  • Vorontsovskaya Str 43, Moscow 109147, Russia
  • The Taj Mahal Hotel, Lobby Mezzanine Floor 1, Mansingh Road, New Delhi 110001, India
  • 1266 Nanjing Xilu Street, Jingan District, Shanghai 200040, China
  • 18 BC, CITIC Building, 19 Jianguomenwai Dajie, Beijing 100004, China
  • Tehran, Iran
• SWIFT/BIC: VTBRRUMM
• Website: http://www.vtb.com
• alt. Website: http://www.vtb.ru
• Additional Sanctions Information: Subject to Secondary Sanctions
• BIK (RU): 044030707
• alt. BIK (RU): 044525187
• Executive Order 13662 Directive Determination: Subject to Directive 1
• Secondary sanctions risk: Ukraine-/Russia-Related Sanctions Regulations, 31 CFR 589.201 and/or 589.209
• alt. Secondary sanctions risk: See Section 11 of Executive Order 14024.
• Organization Established Date: 17 Oct 1990
• Target Type: Financial Institution
• Registration ID: 1027739609391 (Russia)
• Tax ID No.: 7702070139 (Russia)
• Government Gazette Number: 00032520 (Russia)
• License: 1000 (Russia)
• Legal Entity Number: 253400V1H6ART1UQ0N98
• For more information on directives, please visit the following link: http://www.treasury.gov/resource-center/sanctions/Programs/Pages/ukraine.aspx#directives

Supplemental Information: VTB Bank has been carried on the SSI List since 2014, when OFAC determined it to be subject to Directive 1 under E.O. 13662, which restricts dealings in new debt and new equity of Russian financial services sector entities. Because the bank has been fully blocked since February 24, 2022 under E.O. 14024, the SSI entry has for several years recorded a restriction narrower than the one that actually governs dealings with it.

OFAC applied today’s Iran-related change to the SSI record in identical form. The old and new SSI listings match the corresponding SDN listings word for word, down to the same Tehran address, the same secondary sanctions notation, the same 21 alias qualifier changes, and the same added [IRAN-EO13902] tag. Firms that load the SSI List as a separate file should expect the same field-level changes there as on the SDN side. One data point worth checking against internal reference tables is the tag itself. OFAC’s own Program Tag Definitions page assigns [IRAN-EO13902] to the SDN List and does not name the SSI List among the lists on which that tag appears.

List of Changes:

• Field Name: AKA
  • Changed: f.k.a. to: a.k.a. for BANK FOR FOREIGN TRADE OF RSFSR
  • Changed: f.k.a. to: a.k.a. for BANK OF FOREIGN TRADE OF THE RUSSIAN FEDERATION
  • Changed: f.k.a. to: a.k.a. for BANK VNESHEI TORGOVLI OAO
  • Changed: f.k.a. to: a.k.a. for BANK VNESHNEI TORGOVLI ROSSISKOI FEDERATSII AS A PRIVATE JOINT STOCK COMPANY
  • Changed: f.k.a. to: a.k.a. for BANK VNESHNEI TORGOVLI RSFSR
  • Changed: f.k.a. to: a.k.a. for BANK VNESHNEY TORGOVLI JOINT STOCK COMPANY
  • Changed: f.k.a. to: a.k.a. for BANK VNESHNEY TORGOVLI OPEN JOINT STOCK COMPANY
  • Changed: f.k.a. to: a.k.a. for BANK VNESHNEY TORGOVLI ROSSIYSKOY FEDERATSII CLOSED JOINT STOCK COMPANY
  • Changed: f.k.a. to: a.k.a. for BANK VTB OAO
  • Changed: f.k.a. to: a.k.a. for BANK VTB OPEN JOINT STOCK COMPANY
  • Changed: f.k.a. to: a.k.a. for CJSC BANK FOR FOREIGN TRADE OF THE RUSSIAN FEDERATION
  • Changed: f.k.a. to: a.k.a. for JSC VTB BANK
  • Changed: f.k.a. to: a.k.a. for OAO BANK VTB
  • Changed: f.k.a. to: a.k.a. for OAO VNESHTORGBANK
  • Changed: f.k.a. to: a.k.a. for OJSC CJSC BANK FOR FOREIGN TRADE
  • Changed: f.k.a. to: a.k.a. for RUSSIAN VNESHTORGBANK
  • Changed: f.k.a. to: a.k.a. for VNESHTORGBANK
  • Changed: f.k.a. to: a.k.a. for VNESHTORGBANK OF RSFSR
  • Changed: f.k.a. to: a.k.a. for VNESHTORGBANK ROSSII CLOSED JOINT STOCK COMPANY
  • Changed: f.k.a. to: a.k.a. for VTB BANK OAO
  • Changed: f.k.a. to: a.k.a. for VTB BANK OPEN JOINT STOCK COMPANY
• Field Name: Address
  • Added: Tehran, Iran
• Field Name: Additional Sanctions Information
  • Added: Subject to Secondary Sanctions
• Field Name: OFAC Program Tags
  • Added: [IRAN-EO13902]