SWIFT Cuts Services To Iranian Financial Institutions

SWIFT, the Brussels based transaction provider, announced it has been instructed to cut services to Iranian financial institutions that are subject to European sanctions, in order to comply with the EU Council directive.

­The Society for Worldwide Interbank Financial Telecommunication, or SWIFT, is crucial to Iran’s oil and other trade.

Full article: SWIFT Cuts Services To Iranian Financial Institutions (Eurasia Review)