U.S. says SWIFT may very well be sanctioned if it offers with sanctioned entities By EconomySquare

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© Reuters. FILE PHOTO – A person utilizing a cell phone passes the emblem of worldwide safe monetary messaging companies cooperative SWIFT on the SIBOS banking and monetary convention in Toronto

WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin stated on Friday that Belgian-based monetary messaging service SWIFT may very well be hit with U.S. sanctions if it offers companies to Iranian monetary establishments that Washington blacklists.

“SWIFT is no different than any other entity,” Mnuchin instructed reporters on a convention name. “We have advised SWIFT that it must disconnect any Iranian financial institutions that we designate as soon as technologically feasible to avoid sanctions exposure.”

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