To comply with the latest financial sanctions imposed on Iran by the European Union, SWIFT said it would have to disconnect about 30 Iranian banks from its services.

The Trump administration reimposed sanctions against Iran, and while businesses and banks have been cutting ties with Iran, the financial-messaging service that plays a crucial role in moving ...

President Donald Trump suggested he might back eventual sanctions relief for Iran “if they can be peaceful,” combining ...

Treasury Secretary Steven Mnuchin said Thursday that the financial messaging service that moves money around the global banking system will be cutting off Iran’s Central Bank.

The art of making sanctions effective consists in knowing how to close them. Consider the case of the Society for Worldwide Interbank Financial Telecommunications, better known as Swift.

In 2012, the EU enacted sanctions prohibiting SWIFT from providing financial messaging services to certain Iranian banks. Many of these banks were delisted by the EU and then reconnected to SWIFT ...

Russia and Iran are integrating their banking systems, several Iranian central bankers said on Monday. Banks in both countries have been cut off from SWIFT, the critical payments messaging system.

In June and July, new sanctions targeting Iran’s oil sector were announced, but under an authority that would cause them to be lifted if the JCPOA were restored.

SWIFT has been used to impose economic sanctions on Iran, Russia, and Belarus. Inside a SWIFT Transaction Financial institutions use SWIFT to securely transmit information and instructions through ...