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Tehran Cut Off From Global Financial System

IN THIS ISSUE: Iran cut off from global financial system, New N. Korea deal rewards pressure, vulnerable nuclear and radiological materials, Polish nuclear dreams threaten ties with Germany, U.S. dangles secret data for Russia missile shield approval, U.S. Navy successfully tests Trident SLBM.

Published on March 15, 2012
 

Iran Cut Off From Global Financial System

Don Melvin | Associated Press

Majlis

Iran was effectively cut off from global commerce on Thursday, when the company that handles financial transactions said it was severing ties with many Iranian banks - part of an international effort to discourage Tehran from developing nuclear weapons.

The action enforces European Union sanctions because global financial transactions are impossible without using SWIFT, and it will go a long way toward isolating Iran financially.

The Society for Worldwide Interbank Financial Telecommunication, or SWIFT, is a banking hub crucial to oil, financial transactions and other trades.     Full Article

Related:
EU-U.S. Split on Iran Banks Seen Widening (Wall Street Journal)



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Douglas H. Paal | Carnegie Endowment for International Peace
On February 29, 2012, the United States and North Korea separately announced agreement to freeze the North's nuclear activities and medium- and long-range missile tests, and to provide American nutritional assistance to vulnerable populations in the North. The agreement has been diagnosed in detail elsewhere. This discussion is about the forces that brought it about.     Full Article

 
 
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Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.