The United States has said that the Belgian-based SWIFT global payment network could be hit with American sanctions if it deals with Iranian financial institutions that Washington has blacklisted.
“SWIFT is no different than any other entity,” Treasury Secretary Steven Mnuchin told reporters on Friday. “We have advised SWIFT that it must disconnect any Iranian financial institutions that we designate as soon as technologically feasible to avoid sanctions exposure.”
Top officials in the US Treasury Department have been pushing for Iran to remain connected to SWIFT.
Multiple American officials, who spoke to the Washington Free Beacon news website last month, said an internal battle was being fought inside the US administration in Washington to save Iran’s access to international financial markets and provide Tehran with a critical lifeline in advance of the looming sanctions.
Leaders of the SWIFT banking system held meetings with US officials…