In short
- VTB Bank Public Joint Stock Company now appears with an Iran-related designation on the SDN List.
- No unrelated administrative list changes were made in this update.
What happened
OFAC released General License 52C, authorizing certain transactions involving Petróleos de Venezuela, S.A., and amended Venezuela-related FAQ 1245. The agency also updated both the Specially Designated Nationals and Blocked Persons List and the Sectoral Sanctions Identifications List.
The SDN List update includes VTB Bank Public Joint Stock Company with an Iran-related designation, expanding its previous Russia- and Ukraine-related sanctions. No unrelated administrative list changes were reported in this update.
Additionally, OFAC has updated the Specially Designated Nationals and Blocked Persons List and the Sectoral Sanctions Identifications List.
Designated in this action
Organization, regulator US OFAC SDN - Iran —
What compliance teams should check
- Screen all transactions for exposure to VTB Bank Public Joint Stock Company, including its Iran-related designation under [IRAN-EO13902].
- Review and implement the terms of Venezuela-related General License 52C for dealings with Petróleos de Venezuela, S.A.
- Update internal sanctions screening lists to reflect the amended Venezuela-related FAQ 1245 and the latest SDN and Sectoral Sanctions Identifications List changes.
Why it matters
This update signals increased sanctions risk for entities dealing with VTB Bank Public Joint Stock Company, now subject to Iran-related as well as Russia- and Ukraine-related sanctions. Compliance officers must ensure their screening systems capture all relevant aliases and locations for VTB Bank, including new Iran-related restrictions. The amended General License 52C and FAQ 1245 also affect permissible transactions with Petróleos de Venezuela, S.A., requiring careful review to avoid inadvertent sanctions violations.
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