SWIFT Sanctions Could Topple Iranian Economy -- Jerusalem Post
Steinitz: Sanctions barring Iran from int'l fund transfer system make receiving money for big oil transactions impossible.
Finance Minister Yuval Steinitz said Sunday that SWIFT's decision to halt Iran's ability to use its electronic fund transfer system to make international transfers constitutes a tremendous blow that could potentially lead to the collapse of the Iranian economy.
SWIFT is the world's largest electronic payment system and on Saturday implemented its decision to cut off 30 Iranian banks blacklisted by EU supported economic sanctions. By SWIFT's own admission, the move is "extraordinary" and "unprecedented."
Finance Minister Yuval Steinitz said Sunday that SWIFT's decision to halt Iran's ability to use its electronic fund transfer system to make international transfers constitutes a tremendous blow that could potentially lead to the collapse of the Iranian economy. SWIFT is the world's largest electronic payment system and on Saturday implemented its decision to cut off 30 Iranian banks blacklisted by EU supported economic sanctions. By SWIFT's own admission, the move is "extraordinary" and "unprecedented.
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More News On Iran Being Banned Form Using SWIFT
Iranian banks cut off from SWIFT system -- Al Jazeera
Israel Finance Minister: SWIFT decision may cause collapse of Iran's economy -- Haaretz
Steinitz: SWIFT sanctions may lead to Iran's economic collapse -- YNet News
Steinitz: SWIFT sanctions a big blow to Iranian economy -- Jerusalem Post
SWIFT action ‘to cripple Iran' -- Gulf News
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