Society for Worldwide Interbank Financial Telecommunication

Iran Cut Off From Global Financial System

Iran was largely cut off from global commerce on Thursday, when the company that handles financial transactions said it was severing ties with many Iranian banks %u2014 part of an international effort to discourage Tehran from developing nuclear weapons. The action is meant to enforce European Union sanctions, as global financial transactions are impossible without using SWIFT, and will go a long way toward isolating Iran financially.