Top U.S. banks won’t commit to cutting off Iran’s financial access under sanctions

Top U.S. banks won’t commit to cutting off Iran’s financial access under sanctions
(Image: Wikipedia. By The original uploader was Uris at English Wikipedia - Transferred from en.wikipedia to Commons by Legoktm using CommonsHelper., CC BY-SA 3.0, Link)

[Ed. – This is ridiculous. They have to know how this ends.  Seems like something very weird going on here; I don’t recall any such reluctance when the same cutoff from SWIFT was implemented before.]

Two top American financial institutions would not commit to cutting Iranian access to international financial markets, a cornerstone of the Trump administration’s new sanctions on Iran, adding fuel to concerns among U.S. officials about efforts by European countries and Iran’s regional allies to skirt the new American sanctions ahead of a Nov. 4 implementation deadline, the Washington Free Beacon has learned.

J.P. Morgan and Citibank—top American financial institutions that sit on the board of the SWIFT financial network, which facilitates international banking transactions—declined Free Beacon inquiries into whether they intend to disconnect Iran from the network and comply with the Trump administration’s sanctions. …

U.S. officials who have been working on these efforts for months told the Free Beacon that U.S. banks such as J.P. Morgan and Citi are being reminded they will not be spared from the Trump administration’s sanctions if they do not take steps to cut Iran’s access to SWIFT and other financial networks.

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