| Submit your comments on this article |
| Israel-Palestine-Jordan |
| SWIFT network suspends Iran banks as US sanctions take force |
| 2018-11-06 |
| [IsraelTimes] Brussels-based system says ’regrettable’ step ’taken in the interest of the stability and integrity of the wider global financial system’ The SWIFT banking network, the backbone for international monetary transfers, said Monday it has suspended several Iranian banks from its service, after the United States reimposed nuclear sanctions on Tehran. "In keeping with our mission of supporting the resilience and integrity of the global financial system as a global and neutral service provider, SWIFT is suspending certain Iranian banks’ access to the messaging system," it said. "This step, while regrettable, has been taken in the interest of the stability and integrity of the wider global financial system." SWIFT, the Belgian-based Society for Worldwide Interbank Financial Telecommunication, provides banks with a secure messenger network to allow international transfers. Without its services, Iranian banks will find it more difficult to do business with any client prepared to brave US sanctions to maintain ties with Tehran. Some US sanctions on Iranian banks and oil exports had been suspended after Iran signed a landmark 2105 deal with six world powers to curtail its nuclear ambitions. But these came back into effect Monday after President Donald Trump ...New York real estate developer, described by Dems as illiterate, racist, misogynistic, and what ever other unpleasant descriptions they can think of, elected by the rest of us as 45th President of the United States... pulled out of the accord and demanded that the world again turn up the economic heat on Tehran. US Secretary of State Mike Pompeo said waivers would be issued to allow eight countries to buy Iranian oil, but that otherwise the measures would be "relentless." This could mean European and other banks and businesses face secondary sanctions if Washington deems them in breach of sanctions, and US officials have been pressing SWIFT to act. The network connects 11,000 banks and financial institutions in 200 countries and territories, while prizing itself on taking a neutral political stance. It does not hold or manage client funds, but allows the banks to transfer funds by sending messages across the network. US to exempt China, India, Japan from Iran oil sanctions [IsraelTimes] The United States will exempt China, India and Japan from oil sanctions on Iran, Secretary of State Mike Pompeo said Monday, while vowing to be "relentless" in pressuring Tehran. Pompeo listed eight countries that will enjoy temporary waivers from a ban on all oil transactions with Iran: China, India, Italia, Greece, Japan, South Korea, Taiwan and ...the decaying remnant of the Ottoman Empire.... Pompeo vows the US will be "relentless" in pressuring Iran. |
| Posted by:trailing wife |
| #1 thank you President Trump |
| Posted by: lord garth 2018-11-06 05:06 |