{"id":40132,"date":"2018-11-04T12:56:11","date_gmt":"2018-11-04T17:56:11","guid":{"rendered":"http:\/\/olduvai.ca\/?p=40132"},"modified":"2018-11-04T12:56:11","modified_gmt":"2018-11-04T17:56:11","slug":"us-threatens-swift-with-sanctions-if-iran-isnt-cut-off","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=40132","title":{"rendered":"US Threatens SWIFT With Sanctions If Iran Isn&#8217;t Cut Off"},"content":{"rendered":"<div id=\"block-zerohedge-page-title\" class=\"block block-core block-page-title-block\">\n<h3 class=\"page-title\"><a href=\"https:\/\/www.zerohedge.com\/news\/2018-11-04\/us-threatens-swift-sanctions-if-iran-isnt-cut\"><span class=\"field field--name-title field--type-string field--label-hidden\">US Threatens SWIFT With Sanctions If Iran Isn&#8217;t Cut Off<\/span><\/a><\/h3>\n<\/div>\n<div id=\"block-zerohedge-content\" class=\"block block-system block-system-main-block\">\n<article class=\"node node--type-article node--view-mode-full\" role=\"article\" data-gtm-vis-recent-on-screen-2077925_22=\"1147\" data-gtm-vis-first-on-screen-2077925_22=\"1147\" data-gtm-vis-total-visible-time-2077925_22=\"100\" data-gtm-vis-has-fired-2077925_22=\"1\">\n<footer class=\"node__meta\">\n<div class=\"submission-wrapper\"><\/div>\n<\/footer>\n<div class=\"node__content\">\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p>Treasury Secretary Steven Mnuchin threatened the global financial messaging service SWIFT on Friday that it could be penalized if it doesn\u2019t cut off financial services to entities and individuals doing business with Iran. The warning came just days ahead of the US re-imposition of all US sanctions on Iran that had been lifted under the 2015 nuclear deal, which will take effect at midnight tonight and cover Iran&#8217;s shipping, financial and energy sectors.<\/p>\n<p>Speaking to reporters, Mnuchin was <a href=\"https:\/\/www.reuters.com\/article\/us-usa-iran-sanctions-swift\/u-s-says-swift-could-be-sanctioned-if-it-deals-with-sanctioned-entities-idUSKCN1N71RI\">quoted by Reuters as saying <\/a>that &#8220;SWIFT is no different than any other entity,&#8221; adding &#8220;We have advised SWIFT that it must disconnect any Iranian financial institutions that we designate as soon as technologically feasible to avoid sanctions exposure.&#8221;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/SWIFT%20teaser%203.jpg?itok=E7Al6Kun\" data-image-external-href=\"\" data-image-href=\"\/sites\/default\/files\/inline-images\/SWIFT%20teaser%203.jpg?itok=E7Al6Kun\" data-link-option=\"0\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/SWIFT%20teaser%203.jpg\" srcset=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/styles\/inline_image_desktop\/public\/inline-images\/SWIFT%20teaser%203.jpg?itok=E7Al6Kun 1x\" alt=\"\" width=\"500\" height=\"334\" data-entity-type=\"file\" data-entity-uuid=\"b5e361ac-d78c-47df-9eb7-c7e59d4cefa8\" data-responsive-image-style=\"inline_images\" \/><\/a><\/p>\n<p>The Trump administration has been pressuring allies to cut Iranian oil imports to \u201czero\u201d next month although on Friday the US agreed to grant exemptions to 8 countries that import Iran oil; the countries include Japan, India, and South Korea according to Bloomberg. China, the leading importers of Iranian oil remains in discussions with the US on terms but is among the eight, as is Turkey which will likely receive an exemption, the country&#8217;s energy minister said on Friday. The full list of countries receiving waivers will be released on Monday.<\/p>\n<p>By cutting Iran off from SWIFT, Iran would lose its ability to be paid for its exports and to pay for imports. Washington has been pressuring SWIFT to cut Iran from the financial system as it did in 2012 before the nuclear deal. Six years ago the EU imposed sanctions on Iranian banks, forcing SWIFT, which is subject to EU laws, to cut financial transactions with at least 30 of Iran\u2019s financial institutions, including the central bank.<\/p>\n<p>Iranian banks were reconnected to the network in 2016 after the Iran nuclear deal came into force, allowing much needed foreign cash to flow into Tehran\u2019s coffers.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>US Threatens SWIFT With Sanctions If Iran Isn&#8217;t Cut Off Treasury Secretary Steven Mnuchin threatened the global financial messaging service SWIFT on Friday that it could be penalized if it doesn\u2019t cut off financial services to entities and individuals doing business with Iran. The warning came just days ahead of the US re-imposition of all [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[7844,1997,441,683,22780,1068,2662,827,4318],"class_list":["post-40132","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-donald-trump","tag-economic-sanctions","tag-iran","tag-reuters","tag-steven-mnuchin","tag-swift","tag-tehran","tag-united-states","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/40132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40132"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/40132\/revisions"}],"predecessor-version":[{"id":40133,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/40132\/revisions\/40133"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}