November 13, 2018

SWIFT Cuts Off Iran Central Bank As Tehran Sells 700,000 Barrels To Anonymous Direct Buyers

As reported last week, shortly after SWIFT caved to US pressure and defied the EU announcing it would cut off a selection of Iranian banks, on Monday, the US Treasury said the Iranian Central Bank has been officially cut off the SWIFT financial messaging system.

The disconnection, which comes at a time when Iran's economy is reeling and its currency is tumbling as a result of restricted oil exports (albeit offset by numerous temporary waivers for top Iranian oil clients), will made it far more difficult for the Islamic Republic to settle import and export bills. Read more.

ZeroHedge

Related,
SWIFT system to disconnect some Iranian banks this weekend - Reuters
EU says SWIFT decision on Iran banks regrettable - Reuters

Russia, Germany slam US re-imposition of sanctions on Iran - PressTV
U.S. sanctions on Iran has drawn barrage of global criticism (video) - PressTV

SWIFT’s Iran ban will ‘expedite global de-dollarization’ – Max Keiser - RT

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