Russia and Iran are organizing cooperation between the Russian financial messaging system and Iran's SEPAM as an alternative to making payments through SWIFT for protection against third countries' sanctions, Russian presidential Aide Yury Ushakov told reporters, according to Sputnik.
South Korea's chief economic policymaker on Wednesday called on the National Assembly to swiftly pass the 6.7 trillion-won ($5.8 billion) extra budget bill, as Asia's fourth-largest economy is facing downside risks.
Chairman of the State Duma Committee on Financial Markets Anatoly Aksakov announced that talks are underway between Iran and Russia to use the System for Transfer of Financial Messages (SPFS) — the Russian version of SWIFT.
The European Union plans to invite Russia and China to join a future alternative payment network to the global financial services provider SWIFT to circumvent the US sanctions on Iran, according to Russia’s EU Ambassador Vladimir Chizhov.
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 US 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.
The European Union views German Foreign Minister Heiko Maas' idea of creating a European equivalent of the SWIFT payment system as a contribution to the efforts to preserve the Iran nuclear deal following the United States' withdrawal, an EU source told Sputnik on Wednesday.
Senior leaders of the Organization of Islamic Cooperation (OIC) member states have stressed the importance of taking swift action to put an immediate end to the ongoing brutal violence against the Rohingya Muslims in Myanmar.
Russia says it has devised an alternative to a global electronic money transfer mechanism which the United States has shown it would readily use to disrupt overseas financial transactions of countries which it sanctions for political disputes.
The central banks of Turkey and Iran have been reconnected via SWIFT global transaction network, an Iranian economy official said on Wednesday, a sign of normalizing banking ties after the lifting of sanctions against Tehran.
Iran said a foreign company has purchased 30 percent of one of its leading detergent producing brands for a total value of around €51 million through SWIFT – what is already seen as a breakthrough move in the country’s stock market.
Iran says a foreign company has purchased 30 percent of one of its leading detergent producing brands for a total value of around €51 million through SWIFT – what is already seen as a breakthrough move in the country’s stock market.