SWIFT financial service cuts Iran off

SWIFT financial service cuts Iran off

SWIFT, the Brussels based transaction provider, announced it has been instructed to cut services to Iranian financial institutions that are subject to European sanctions, in order to comply with the EU Council directive.
­The Society for Worldwide Interbank Financial Telecommunication, or SWIFT, is crucial to Iran’s oil and other trade.

The EU Council decision prohibits companies such as SWIFT from continuing to provide specialized financial messaging services to EU-sanctioned Iranian banks..... MORE
Source:  RT.com

URL: http://rt.com/news/swift-iran-ban-oil-667/