The international provider of financial messaging services "Swift" on Monday, suspended the arrival of some Iranian banks to its network, after Washington's decision to impose a second package of sanctions on Tehran, including the oil and financial sectors.
"This procedure, although regrettable, was taken for the benefit, stability and integrity of the global financial system as a whole," the Brussels-based Swiss-based firm said.
The second package of US sanctions on Iran entered into force on Monday, specifically aimed at the energy sector, after Washington withdrew from the international nuclear agreement with Iran in May.
US President Donald Trump described the new package as the largest in US history, saying Tehran was no longer in good shape.
After re-imposing a first package of sanctions on August 6, the second package, seen as the most painful of the Iranian economy, includes the following:
- Iranian port operators, shipping and shipbuilding sectors, including Iranian shipping lines, South Shipping Line and its subsidiaries.
- Oil-related transactions with national Iranian oil companies, Iran's oil company for commercial exchange, and the Iranian National Tanker Company, including the purchase of oil and petroleum products or petrochemical products from Iran.
- Transactions by foreign financial institutions with the Central Bank of Iran and Iranian financial institutions renewed under Article 1245 of the National Defense Authorization Act of FY12, including sanctions on the provision of specialized financial services services to the Central Bank of Iran and the Iranian financial institutions set out in the Comprehensive Penal Code, Iran for the year 2010.
- Insurance or reinsurance services.
- Iranian Energy Sector.
- Withdrawal of the authorization granted to foreign entities owned or controlled by the United States in order to terminate certain activities with the Iranian government or persons under the jurisdiction of the Iranian Government.
Re-impose sanctions applicable to persons who have been removed from the list of sanctions or other relevant lists of the US government.
Those with activities under the sanctions chamber should take the necessary steps to reduce those activities by November 4, in order to avoid being sanctioned or prosecuted by US law.
The first package of sanctions, re-imposed last August, targeted the Iranian auto sector and the banking sector, including dealing with the Iranian riyal and Iranian bonds.
The sanctions also included the sale and purchase of iron and steel and aluminum, the withdrawal of licenses for commercial aircraft operations, and the punishment of the Iranian industrial sector in general, including the Iranian carpet sector.
