SWIFT Ready for Iran Sanctions

Bank messaging consortium prepared to discontinue services to Iranian financial institutions.

SWIFT, the global bank-transfer messaging service, said it is prepared to impose sanctions against Iranian financial institutions once the European Union presents implementing rules on its restrictions.

“SWIFT stands ready to act and discontinue its services to sanctioned Iranian financial institutions as soon as it has clarity on EU legislation currently being drafted,” the Society for Worldwide Interbank Financial Telecommunication said today in a statement.

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