SWIFT cut off its services from banks of Iran
The Global Interbank Financial Communications Association (“swift “) has severed its services from the central Bank and other financial institutions in Iran. According to US Treasury Undersecretary Seagal mandelker.
“Swift ” told the financial correspondence a week ago that it would suspend the arrival of a number of Iranian banks for their data exchange system.
The decision was taken against the backdrop of the US withdrawal from Iran’s nuclear deal and the imposition of new sanctions against Iran.
For its part, the European Commissioner expressed regret over the decision, which would hamper banking and financial operations in Iran.
“Swift ” is an international network among banks for the transmission of information and the provision of a unified global network of secure financial communications between banking institutions.