Iranian banks reconnect to SWIFT

Iranian banks were disconnected from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) in March 2012 as part of the EU’s sanctions on Iran. Today SWIFT (which is incorporated in Belgium) has confirmed that, following implementation of the JCPOA in January which lifted most EU sanctions on Iran, some non-sanctioned banks have been reconnected to SWIFT, and others have applied to...