The SWIFT banking transaction system rejected “individual callsand pressure” to block institutions and countries from its network,saying only governments can make sanctions decisions.

“SWIFT and its stakeholders have received calls to disconnectinstitutions and entire countries from its network—most recentlyIsrael and Russia,” the Belgium-based Society for WorldwideInterbank Financial Telecommunication said today in a statement onits website. “SWIFT will not make unilateral decisions todisconnect institutions from its network as a result of politicalpressure,” according to the statement.

The U.K. floated the idea of blocking Russian access to SWIFT, themessaging system for most international money transfers, ahead of asummit of European Union (EU) leaders in August. The move wasn'tconsidered at the time, according to two European officials.

“Any decision to impose sanctions on countries or individualentities rests solely with the competent government bodies andapplicable legislators,” SWIFT said. “SWIFT will not respond toindividual calls and pressure to disconnect financial institutionsfrom its network.”

The EU included a SWIFT prohibition as part of sanctions imposedon Iran in March 2012, banning financial messaging providers fromproviding services to Iranian banks. SWIFT must comply with EUdecisions because the organization is incorporated under Europeanlaw.

“SWIFT regrets the pressure, as well as the surrounding mediaspeculation, both of which risk undermining the systemic characterof the services that SWIFT provides its customers around theworld,” according to the statement on its website. “It has noauthority to make sanctions decisions.”

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