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Regarding the recent legislation proposed by the US Senate Banking Committee regarding Iran, SWIFT fully understands and appreciates the gravity of the situation. We are working with US and EU authorities, as well as discussing with the G10 central banks which oversee SWIFT, to find the right multilateral legal framework which will enable SWIFT to address the issues.
The actions being discussed by the US and EU will provide clarity and legal certainty concerning SWIFT's ability to expedite an effective response. This is a complex situation that needs to take into consideration the implications to the functioning of the global payments system as well as to the continued flow of humanitarian payments to the Iranian people.
SWIFT remains committed to the global battle against terrorist financing, and has a strong history of cooperating with relevant enforcement agencies in the United States and the European Union.