Iran has been excluded from the international bank system SWIFT

On Saturday, March, 17th, SWIFT, the largest international interbank payment system which unites more than 10000 financial institutions in 210 countries, has stopped to render a telecommunication service to the Iranian banks which have got under the sanctions of the European Union. This event won't take a toll on 116 individuals, 442 companies, and also the Central bank of Iran. 

The western countries hope by means of sanctions to prevent realization of the nuclear program of Iran. Lazaro Kampos, general director of SWIFT, has declared: «Switching-off of banks - an extreme and unprecedented step for SWIFT. It is a direct result of the international and multilateral actions directed on strengthening of financial sanctions concerning Iran». 

Expert’s opinion

«As a result of switching-off of the Iranian banks from the system SWIFT Teheran will really lose the major channel whereby it makes all financial operations with other world.
Besides the financial isolation of Iran this event can affect country petroleum industry. Moreover, this step will affect the Iranians living abroad as they can’t elementary transfer money at home.
It is really unprecedented step in the history of SWIFT, nevertheless it serves to save the whole world from possible troubles from Iran».

On the basis: http://www.swift.com/

Lomakina Irina ( the director of Moscow office of Honest & Bright )