Socio-Economics History Blog

Socio-Economics & History Commentary

US Pressures SWIFT to Cut Off Iran from Global Banking Transactions to Enforce Sanctions

  • By cutting off Iran from SWIFT, American is preventing any countries from doing international trade with Iran. It is an Act of War. But with the rise of the SWIFT alternatives: China CIPS and Russia SWIFT, America is no longer able to enforce their sanctions 100%. The Europeans have also indicated that they are coming out with their alternative for Iranian trade/business.
  • US Pressures SWIFT to Cut Off Iran from Global Banking Transactions to Enforce Sanctions
    by https://www.rt.com/
    The US aims to disconnect Iran from the SWIFT global payment network as part of new economic sanctions against the Islamic Republic in November. Disconnection from network would make it difficult for Iran to get paid for exports.

    “I can assure you our objective is to make sure that sanctioned transactions do not occur whether it’s through SWIFT or any other mechanism,”
     US Treasury Secretary Steven Mnuchin told Reuters on Sunday. “Our focus is to make sure that the sanctions are enforced.”

    After tearing up the 2015 Iran nuclear deal (JCPOA) in May to introduce sanctions against the Islamic Republic, the first round of American punitive measures targeting metals trading, coal, industrial software, and the auto sector took effect in August.

    read more.

end

October 23, 2018 - Posted by | Economics, GeoPolitics | , , , ,

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