The US has expanded sanctions against VTB, adding the bank to restrictions related to Iran's financial sector. The US Treasury claims that VTB established correspondent relations with sanctioned Iranian banks and participated in creating new settlement channels between Russia and Iran.

According to OFAC, this included settlements in rubles and Iranian rials and attempts to organize the transfer of billions of dollars in frozen Iranian assets. VTB was already under US restrictions, but the new "Iranian" designation increases risks for foreign banks that continue to conduct operations with it.

The issue becomes particularly sensitive for settlements between Russian businesses and China. Market participants are already considering alternative routes — through payment intermediaries, PSB, and the A7 international settlement system. The latter specializes in cross-border payments and works with foreign trade contracts of Russian businesses.

A separate tool of this infrastructure is A7A5 — a stablecoin pegged to the ruble. It is already used in foreign trade settlement schemes: Russian importers and exporters can acquire the associated digital financial asset to pay for contracts, after which the foreign counterparty receives A7A5 on a public blockchain.

VTB itself had previously planned to open a full-fledged branch in Iran, but in spring 2026, the project was put on hold. Currently, the bank maintains only a representative office in the country.