A new blow to the economy of Tehran ... "Swift" suspended the activities of the Iranian banks

"The network will separate some Iranian banks from its system this weekend, following Washington's decision to impose a second package of sanctions on Iran, including the oil and financial sectors," said Gottfried Librant, managing director of SWIFT Financial Messaging during an event in Paris.
At the beginning of this week, Swift has already indicated that it would suspend the arrival of unspecified Iranian banks to its messaging system in order to maintain the stability and integrity of the global financial system.
SWIFT is an international interbank electronic transfer system that allows customers to transfer money in foreign currencies to accounts in other banks around the world.
In a brief statement released earlier this week, Swift did not mention the US sanctions that were re-imposed on Monday at some Iranian financial institutions as part of US President Donald Trump's efforts to force Iran to curb its nuclear, missile and regional activities.
"The suspension of access by Iranian banks to the messaging system is an unfortunate step, but has been taken in the interest of the stability and integrity of the broader global financial system," said Swift.
US Secretary of State Mike Pompeo has asked Swift to exclude Iranian financial institutions listed on the US black list from its services, with the exception of "humanitarian transactions".
A global financial communications association, SWIFT, was founded in Belgium in 1973 on the initiative of international banking institutions to provide a unified global network of secure financial communications between banking institutions.
SWIFT's services allow the connection of over 11,000 banking organizations, infrastructures and companies in over 200 countries and regions, according to the company, stating that it has no capital or manages accounts for customers.
At the moment, attention is drawn to the magnitude of the impact that the second round of US sanctions could have on Iran, which targets in particular oil exports and the financial sector.
Transactions of foreign financial institutions with the "Iranian central" and any other financial institution will be subject to the US sanctions list as these sanctions isolate the Iranian banks from the association of interbank financial communications in the world known as "Swift" ".
This system allows banks in the world to communicate with each other, making global transactions possible, which means that Iran's financial crisis will double.
Even if companies are willing to take risks and buy Iranian oil, it would be impossible for Iran to receive payments if its banks were not part of Swift.
The only exemption from these sanctions is for Iranian banks that carry out transactions involving only food and medicine.
The second package of US sanctions in Tehran came into force last Monday and two vital sectors for Tehran – oil and banks – and 700 personalities and entities have moved on.
The US administration aims to achieve Iran's level of zero oil exports. Sanctions include a number of areas, the most important of which are: the return of sanctions related to ports and naval fleets and administrations ships, including the Iranian fleet, the southern Iranian fleet and their subsidiaries.
It also includes the return of oil sanctions, in particular the financial transactions with the national oil company of Iran, and the ban on the purchase of oil, petroleum products or petrochemicals from Iran.
Furthermore, sanctions include the prohibition of financial transactions by foreign financial institutions with the Central Bank of Iran and some Iranian financial institutions.
In addition to penalties for the private financial services of the Central Bank of Iran and Iranian financial institutions, and penalties for the provision of insurance services.
In addition, the United States has canceled the licenses granted to US entities to deal with Iran after the nuclear agreement in 2015.

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