The Belgium-based firm which handles international wire transfers, Swift, has said it will block transactions by all EU-sanctioned Iranian banks at 5pm Brussels time on Saturday (17 March).
"Disconnecting banks is an extraordinary and unprecedented step for Swift. It is a direct result of international and multilateral action to intensify financial sanctions against Iran," the company's CEO, Lazaro Campos, said in a statement.
EU countries ordered Swift to act earlier on Thursday,...
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Already a member? Login hereAndrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.
Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.