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America’s office of Foreign Assets Control

America’s office of Foreign Assets Control latest

Over 10,000 banks around the globe rely on SWIFT's services. (Swift HQ Belgium, AFP)
September 11th, 2018 - 01:02 GMT

As Europe and the U.S. Diverge on Iran, the SWIFT Financial Network is Stuck in the Middle

If Trump succeeds in coercing a small financial transaction company to expel Iranian banks from its network, it could be a decisive blow to the Islamic Republic's power. Europe's blocking measures are going to get in the way, but it's not clear that they aren't hurting the very companies they're meant to be protecting. But ultimately, Washington's overreach with sanctions could come back to haunt it.
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