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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