Sunday , August 1 2021

Iran receives a hit from "Swift Network"




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Earlier this week, Swift said it would delay the arrival of several banksIranTo the system "For the sake of stability and integrity of the global financial system".

Swift did not mention US sanctions as the reason for his decision, which might reflect the fact that he was trapped between conflicting regulatory requirements.

Speaking at the French-German business conference in Paris, Lebrant said early next week "We will separate a number of banksIranyeh "Add that it is a trading decision and will not affect all banks.

He later said that the bank list would be published earlier in the week after notifying the banks concerned, and refused to comment on whether the central bank was on the list.

The US government has informed Swift that they expect them to comply with sanctions, and that they may face sanctions from Washington if they do not comply.

Swift, on the other hand, is not permitted to do so under EU law known as the Blockade Act, which can expose it to European sanctions if it complies with US law.

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Earlier this week, Swift said it would delay the arrival of several banksIranFor the system "in the interests of stability and integrity of the global financial system".

Swift did not mention US sanctions as the reason for his decision, which might reflect the fact that he was trapped between conflicting regulatory requirements.

"At the beginning of next week, we will separate a number of banks," he said at a French-German business conference in ParisIran"Adding to that is a trading decision and will not affect all banks.

He later said that the bank list would be published earlier in the week after notifying the banks concerned, and refused to comment on whether the central bank was on the list.

The US government has informed Swift that they expect them to comply with sanctions, and that they may face sanctions from Washington if they do not comply.

Swift, on the other hand, is not permitted to do so under EU law known as the Blockade Act, which can expose it to European sanctions if it complies with US law.


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