Banking Hub Adds to Pressure on Iran
Wall Street Journal / JAY SOLOMON and ADAM ENTOUS
04-Feb-2012 (4 comments)

An organization that is central to the international banking system said it is working with U.S. and European governments to address their concerns that its financial services are being used by Iran to avoid sanctions and conduct illicit business.

Current and former U.S. officials said that if the Belgium-based organization, the Society for Worldwide Interbank Financial Telecommunication, or Swift, bans sanctioned Iranian entities from using its network, Tehran could find itself virtually incapable of conducting electronic financial transactions.

"This would be the knockout blow," said Avi Jorisch, a former U.S. Treasury Department official who has worked on Swift.

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G. Rahmanian

This is real!

by G. Rahmanian on

Forget about rumors and Iranian "yek kalaagh chel kalaagh!"


Are you sure that they don't do it?

by Souri on

I heard that people bring money in paper boxes (katon moghavaee) from Tehran to Dubai! Don't know if this is true or just a rumore!


Great News!

by Faramarz on

This basically means that the Regime banks cannot wire or do any kind of electronic transactions.

In other words, they can only use a suitcase full of money to conduct transactions now.

G. Rahmanian

Good News!

by G. Rahmanian on

Good News Is Good News, Is Good News, Is Good News!