Today 13:01 – On Wednesday, the European Commission (EC) expressed regret over the decision of a Belgian company that manages the SVIFT banking system to suspend some undecided Iranian banks into the system.
"We consider this decision to be worrying," said Maja Kocijancicova, a spokeswoman for the Foreign Affairs Commission.
The Company for International Interbank Financial Telecommunications (SVIFT) manages a global network for the exchange of electronic reports on financial transactions between banks and other financial institutions. SVIFT is therefore the main link between Iran and the international banking system.
SVIFT announced on Monday (November 5th) that it has suspended the access of Iranian banks to the system "in the interest of stability and integrity of the wider global financial system".