By Staff Writer
At the beginning of the nineties, Iran joined the Society for the Worldwide Interbank Financial Telecommunication, or SWIFT as it is better known. SWIFT allowed Iran to link its major banks to the international financial network.
However, a decade after joining SWIFT, the United States put pressure on the company to sever links with Iran because of its nuclear program. This effectively cut off Iran’s access to world banking. Restrictions were lifted when the 2015 Iran nuclear deal was implemented, giving a major boost to the Iranian regime.