WASHINGTON -- The banking entity responsible for processing electronic bank transfers is cutting ties with Iranian banks sanctioned by the European Union. In response to European Union sanctions, the Society for Worldwide Interbank Financial Telecommunication...
By Ron Kampeas, JTA, WASHINGTON
• Published December 21, 2011
New sanctions targeting Iran's financial sector and its sale of crude oil give President Barack Obama leeway to moderate their possible impact on oil markets and to use carrots as well as sticks to sway third parties into isolating the Islamic Republic.The...
