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February 17, 2012

Reuters: 3-Banking’s SWIFT Says Ready to Block Iran Transactions

Reuters: 3-Banking’s SWIFT Says Ready to Block Iran Transactions

By: Philip Blenkinsop and Rachelle Younglai (Reuters)

 

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. “Kicking Iran out of SWIFT is both unprecedented and another dangerous step toward turning a financial war into a military conflict,” said Reza Marashi, NIAC Research Director.

 

 

 

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