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November 7, 2018 10:34 am

EU Says SWIFT Decision on Iran Banks Regrettable

avatar by Reuters and Algemeiner Staff

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The logo of global secure financial messaging services cooperative SWIFT is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada, Oct. 19, 2017. Photo: Reuters / Chris Helgren.

The European Commission said on Wednesday it found regrettable the decision by the Belgium-based SWIFT financial messaging service to suspend some unspecified Iranian banks’ access to it.

“We find this decision rather … regrettable,” Commission foreign affairs spokeswoman Maja Kocijancic told a briefing.

In a statement on Monday, SWIFT said that suspending the Iranian banks access to the messaging system was “taken in the interest of the stability and integrity of the wider global financial system.”

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