Iran sanctions agreement
Brussels, 14 July 2015
SWIFT is aware of the Joint Comprehensive Plan of Action and the potential sanctions relief this may entail.
For the time being, all the current EU sanctions remain in place, including measures prohibiting companies such as SWIFT from providing specialised financial messaging services to EU-sanctioned Iranian banks. SWIFT is incorporated under Belgian law and has to comply with the related EU Regulation, as confirmed by its home country government.
As a utility with a systemic global character, SWIFT has no authority to make sanctions decisions. Any decision to lift sanctions on countries or individual entities rests solely with the competent government bodies and applicable legislators.
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,800 banking organisations, securities institutions and corporate customers in over 200 countries and territories. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.
For more information, visit http://www.swift.com/ or follow us on Twitter: @swiftcommunity and LinkedIn: SWIFT
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