The U.S. Treasury on Monday announced sanctions on Evrofinance Mosnarbank, calling it a "lifeline for the illegitimate regime" of Nicolas Maduro, whom the Trump administration no longer recognizes as Venezuela's president. The bank is based in Moscow and is jointly owned by Russian and Venezuelan state-owned companies. The Treasury said the net assets of the bank grew more than 50% during 2018, as the U.S. has escalated sanctions against Maduro's regime. The sanctions announced Monday freeze the bank's assets that are in the U.S., and prohibit Americans from dealing with it. Treasury said the sanctions target a foreign financial institution that has assisted Petroleos de Venezuela S.A. (PdVSA), which Treasury calls an entity that has been a vehicle for corruption by Maduro and his cronies.