The White House and possibly Europe are looking to expel Iran from SWIFT, a move that would cripple the country financially.
I supported the sanctions on Iran, but remain undecided on whether they should be removed from SWIFT.
Regardless, I seriously doubt SWIFT will decide to evict Iran from the organization. Just do not see it happening unless an enormous amount of pressure is placed upon them by the U.S. and Europe.
I supported the sanctions on Iran, but remain undecided on whether they should be removed from SWIFT.
Regardless, I seriously doubt SWIFT will decide to evict Iran from the organization. Just do not see it happening unless an enormous amount of pressure is placed upon them by the U.S. and Europe.
WASHINGTON – The United States and Europe are considering unprecedented punishment against Iran that could immediately cripple the country's financial lifeline. But it's an extreme option in the banking world that would come with its own costs.
The Obama administration wants Iran evicted from SWIFT, an independent financial clearinghouse that is crucial to the country's overseas oil sales. That would leapfrog the current slow-pressure campaign of sanctions aimed at persuading Iran to drop what the U.S. and its allies contend is a drive toward developing and building nuclear weapons. It also perhaps would buy time for the U.S. to persuade Israel not to launch a pre-emptive military strike on Iran this spring.