Belgium-based SWIFT, which provides banks with a system for moving funds around the world, bowed to international pressure on Friday and said it was ready to block Iranian banks from using its network to transfer money further isolating Iran's economy on the global stage.
Expelling Iranian banks from the Society for Worldwide Interbank Financial Telecommunication would shut down Tehran's main avenue to doing business with the rest of the world - an outcome the West believes is crucial to curbing Iran's nuclear ambitions.
SWIFT, which has never cut off a country before, has been closely following efforts in the United States and the European Union to develop new sanctions targeting Iran that would directly affect EU-based financial institutions.
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1 comment:
just keep throwing those rocks... they will not lay down. They will "go off". Then the US will have their "crisis" needed to get into that war O'bama wants so badly.
D__khead.
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