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.

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 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 ...

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 ...

The US Treasury Department has expanded sanctions against Iran. They are aimed, in particular, at preventing the ...

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.

President Biden's administration on Wednesday morning announced sanctions against roughly 1,000 entities and individuals that Iran uses to support terrorism, in addition to its missile program ...