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 ...

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.

Since the 2018 reimposition of sanctions, Iran has been disconnected from the western-based Swift financial messaging system, while many Russian banks were kicked off the platform following Moscow ...

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 ...

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 ...