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| The importance of banning Iran’s regime from SWIFT |
| 2018-10-30 |
| [ENGLISH.ALARABIYA.NET] Crippling US sanctions are set to kick in early next month against Iran’s regime, targeting its oil and banking sectors. While initially calling for "maximum pressures," as we speak, the Trump administration is weighing to what extent these measures should push forward in denying Tehran access to the global financial system. There is word that US Treasury Secretary Steve Mnuchin is informing foreign governments that Washington may be stepping back from an onslaught aimed at forcing the Belgium-based financial messaging network, Society for Worldwide Interbank Financial Telecommunications, or SWIFT, to cut off sanctioned Iranian banks, according to the Wall Street Journal. This is a highly important matter as SWIFT, the Society for Worldwide Interbank Financial Telecommunications, is considered part and parcel of Washington’s upcoming oil sanctions on Tehran. If the US were to allow SWIFT continue providing even limited services to the Iranian regime, loopholes would be exploited by Tehran to facilitate money transactions the regime desperately needs. This is why senior US administration officials are calling for sanctioning SWIFT board members should they decide to facilitate such financial transactions for Tehran. If Trump allows Iran access to SWIFT, his measures would not meet the "maximum pressures" litmus test and be weaker than Barack Obama teachable moment... ’s actions. |
| Posted by:Fred |