Economy, Business And Markets

Top US Banks Against Iran SWIFT Embargo

Both J.P. Morgan and Citibank could play a pivotal role in ensuring SWIFT and its members obey the new sanctions targeting the Central Bank of Iran and its critical infrastructure networks
Top US Banks Against Iran SWIFT Embargo
Top US Banks Against Iran SWIFT Embargo

Two top American financial institutions would not commit to cutting Iranian access to international financial markets, a cornerstone of the new anti-Iran sanctions of US President Donald Trump's administration.
This fuels concerns among US officials about efforts by European countries and Iran's regional allies to skirt the new American sanctions ahead of a Nov. 4 implementation deadline, Washington Free Beacon has reported. 
J.P. Morgan and Citibank—top American financial institutions that sit on the board of the SWIFT financial network that facilitates international banking transactions—declined to respond to inquiries into whether they intend to disconnect Iran from the network and comply with the Trump administration's sanctions.


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