Members of the Asian Clearing Union (ACU), a regional banking bloc that seeks easier clearing of payments between its member states, have agreed to launch a system that will rival the SWIFT international payment network. ACU members agreed in a summit in the Iranian capital Tehran on Wednesday to launch their own banking messaging system within ...

MNA Governor of Central Bank of Iran, Abdolnaser Hemmati, said Wed. that the country is making efforts to further strengthen trade transactions via national currencies, and render SWIFT practically useless. He made the remarks on the sidelines of a cabinet meeting on Wednesday, adding that the US sanctions regime has helped remove dollar from trade ...

Tasnim Irans financial telecommunications system, known as SEPAM, has replaced the Society for Worldwide Interbank Financial Telecommunication (SWIFT) in the countrys financial transactions with Russia, the governor of the Central Bank of Iran (CBI) said. In remarks released on Tuesday, Abdonnaser Hemmati said banking ties between Iran and Russia ...

IRNA The aide for Russian president for international affairs said Iran and Russia are looking for an alternative network to replace the Society for Worldwide Interbank Financial Telecommunication (SWIFT) whose key is unlawfully held by the secretary of US Department of Treasury. Iran and Russia will take measures for expansion of direct financial ...

Coingape - The latestreportunveils Irans upcoming move of launching state-backed cryptocurrency this week. The move is intending to skirt US sanctions and SWIFT payment system. Avoiding US Sanctions Momentarily As per the sources, Iran may introduce its national cryptocurrency at a blockchain-based conference called E-Banking and Payment System....

Trend News Agency - If there is a special purpose vehicle (SPV), there will be no need for physical transfer of money, Irans former ambassador to the UN office in Geneva Ali Khorram said in an interview with ILNA, Trend reports. He said that SPV is a mechanism that doesnt neutralize US sanctions, but simplifies financial and banking relations. In ...

MNA An informed source said the Central Bank of Iran (CBI) has launched a money transfer alternative to the SWIFT, adding that foreign banks are joining the platform one after another. An Iranian official at the CBI told Fars news agency (FNA) on Sunday that the Central Bank of Iran is setting up a platform to conduct banking transactions with ...

Sputnik - Earlier, the US Treasury announced that the Society for Worldwide Interbank Financial Telecommunication (SWIFT) would sever its links to several Iranian banks for the sake of the overall stability of the network. SWIFT did not say directly that it was cutting off Iranian banks due to the new US sanctions which entered force on November ...

MNA Central Bank of Iran (CBI) in its latest report said that Society for Worldwide Interbank Financial Telecommunication (SWIFT) does not have any role in keeping accounts and settlement of currency. In its reaction to the suspension of global financial messaging services of some Iranian banks, CBI added, SWIFT does not have any role ...

RT - In pushing the SWIFT financial messaging system to exclude Iran, the US has gone rogue, economist Steve Keen told RT. SWIFT cut a raft of Iranian banks - including the countrys central bank - off from its system on Monday, having come under pressure from the US to do so. Treasury Secretary Steven Mnuchin said that the move is the right decision ...

RT - The blacklisting of Iran from international financial messaging system SWIFT serves as a warning to Washingtons enemies, but will hasten the demise of the dollar, stockbroker-turned broadcaster Max Keiser told RT. SWIFT, a system that facilitates cross-border payments between 11,000 financial institutions in more than 200 countries worldwide ...

Sputnik - The US announced the re-imposition of sanctions against Tehran that were previously lifted under the JCPOA on 5 November. Prior to this date, Washington had warned the Belgium-based organization working with interbank transactions that it would also fall under sanctions if it continued to work with Iranian banks. Deputy Secretary ...

RT - Banks in Iran have started sending letters to their branches, informing them that they will be cut off from the international financial messaging system SWIFT starting Monday. Being cut off from SWIFT makes it difficult for Iran to get paid for exports and to pay for imports. SWIFTs chief executive Gottfried Leibbrandt had earlier confirmed ...

Reuters - The Belgium-based SWIFT financial messaging service will be disconnecting some Iranian banks this weekend, said SWIFT chief executive Gottfried Leibbrandt at an event in Paris on Friday. Earlier this week, SWIFT had already stated that it would be suspending some unspecified Iranian banks access to its messaging system in the interest ...

Reuters - The Belgium-based SWIFT financial messaging service said on Monday it is suspendingsome unspecified Iranian banks access to its messaging system in the interest of the stability and integrity of the global financial system. In a brief statement, SWIFT made no mention of U.S. sanctions coming back into effect on some Iranian financial institutions ...

Reuters - U.S. Treasury Secretary Steven Mnuchin said on Friday that Belgian-based financial messaging service SWIFT could be hit with U.S. sanctions if it provides services to Iranian financial institutions that Washington blacklists. SWIFT is no different than any other entity, Mnuchin told reporters on a conference call. We have advised SWIFT ...

MNA The US will reportedly offer major concessions to Iran that could allow the Islamic Republic to ease the pressure from upcoming economic sanctions. Senior US State Department officials working on the Iran issue are said to have convinced Secretary of State Mike Pompeo to permit Iran to remain connected to the Society for Worldwide ...

Sputnik - While Mnuchin insisted that the United States wants to ensure that sanctioned transactions with Tehran "do not occur" through SWIFT or any other mechanisms, he also claimed that the Treasury Department would also identify banks that would be allowed to process transactions for humanitarian funding to Iran. US Treasury Secretary ...

Washington Free Beacon - An internal battle is being fought inside the Trump administration to save Iran's access to international financial markets, providing Tehran with a critical lifeline ahead of the implementation of harsh new economic sanctions, according to multiple U.S. officials who spoke to theWashington Free Beacon. Top officials in ...

RT - Bern will take part in any new payment system if it were created as an alternative to the Society for Worldwide Interbank Financial Telecommunication (SWIFT), according to Swiss Ambassador to Moscow Yves Rossier. Switzerland's position on the issue of creating payment channels that are independent of the United States is unlikely to differ ...