The Treasury Department on Monday imposed additional sanctions on VTB Bank, Russia’s second-largest lender, for allegedly establishing correspondent relationships with sanctioned Iranian banks.

“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,” Treasury Secretary Scott Bessent said in a statement Monday. “Treasury will not tolerate any support to the regime and will continue to identify, expose and isolate Iran’s enablers.”

Bessent teased Thursday that Treasury would level sanctions against “a large bank.” The VTB sanction represents the latest prong of “Operation Economic Outcast,” a push to deter the flow of money supporting Iran – amid the backdrop of its six-month conflict with the U.S.

Treasury last month sanctioned Dubai-based branches of Egypt’s Banque Misr and followed up by sanctioning Turkey-based Golden Global Yatirim Bankasi Anonim Sirketi and its subsidiaries.

VTB is already under U.S. sanctions dating back to 2022 over Russia’s invasion of Ukraine. Since then, the U.S. Justice Department charged its CEO, Andrey Kostin, with two counts of violating the International Emergency Economic Powers Act, two counts of conspiracy to violate that law, and one count of conspiracy to commit international money laundering.

VTB also sued JPMorgan Chase in Russia in 2024 to regain access to assets frozen due to sanctions violations. JPMorgan countersued, saying VTB breached a 2008 agreement to handle any issues in New York.

The Russian court ordered a seizure of nearly $440 million in JPMorgan funds but backed off from collecting at least one class of assets.