Swift separates Iranian banks within days for “stability interest”


 

09-11-2018 08:57 PM

Jotfred Lebrant, chief executive of SWIFT, a Belgian-based messaging system, said it would separate some Iranian banks from its system early next week.

Earlier in the week, Swift said it would suspend the arrival of unspecified Iranian banks to its messaging system in order to maintain the stability and integrity of the global financial system.

In a brief statement earlier this week, Swift did not mention US sanctions that were re-imposed on some Iranian financial institutions on Monday as part of US President Donald Trump’s efforts to force Iran to curb its nuclear, missile and regional activities.

Bayan Swift said the suspension of Iranian banks’ access to the messaging system was “unfortunate” but “taken in the interests of stability and the integrity of the broader global financial system.”

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