One of Iran's most important links to the world financial systemwill be severed as part of the stepped-up campaign to pressureIran's leaders to abandon any ambitions to develop nuclearweapons.
The Society for Worldwide Interbank Financial Telecommunication,known as Swift, the dominant messaging service for internationalfinancial transactions, said today it would halt service for sometwo dozen Iranian banks that have been sanctioned by the EuropeanUnion, including Iran's central bank.
The cutoff, effective March 17 at 4 p.m. London time (noon NewYork time), is a response to EU regulations issued today that banfinancial messaging services for entities subject to an EU assetfreeze.
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