The United Kingdom, Germany, Italy, Canada, the United States, France, and the European Commission agreed to impose new "tough financial sanctions" on Russia, including disconnecting some of its banks from the SWIFT system.
The head of Iran-East Africa Joint Chamber of Commerce, says Iran has tried to open four banks in Africa through the chamber of commerce in order to grant required credit to traders especially to Iranian businessmen.
Chairman of Iran-Italy Joint Chamber of Commerce Ahmad Pourfallah warned Iranian policy-makers and elites that if the country does not restore link with the SWIFT and join the FATF, the removal of sanctions will have no effect because the country will be unable to transfer money even after lifting the sanctions.
Iran's Cooperative Development Bank Managing Director Hojjatollah Mahdian said that the Cooperative Development Bank is one of the few banks that still connected to the Swift system.
Iranian political analyst remained optimistic about the future of the Russian-Iranian collaboration.
If there is a special purpose vehicle (SPV), there will be no need for physical transfer of money, Iran’s former ambassador to the UN office in Geneva Ali Khorram said in an interview with ILNA.
Foreign banks will soon be able to become part of Russia's money transfer network which serves as an alternative to the traditional SWIFT (Society for Worldwide Interbank Financial Telecommunication) system, a Russian official said.
Governor of the Export Development Bank of Iran Ali Salehabadi said that Iran has had banking relations with 127 foreign banks in the post-JCPOA era, sending SWIFT to various banks worldwide.
