Starting next week .. Swift decided to separate Iranian banks from its system

The SWIFT network for financial correspondence decided to separate some Iranian banks from its system early next week.

Swift said it would suspend the arrival of some Iranian banks to its system ‘in the interest of stability and the integrity of the global financial system’.

Without mentioning US sanctions, as the reason for its decision, which probably reflects the fact that it is caught between conflicting regulatory requirements.

“At the beginning of next week, we will separate a number of Iranian banks,” Librant, chief executive of SWIFT, told a French-German business conference in Paris. “It is a trade decision and will not affect all banks. Source