Thumbing its Nose at SWIFT Ban, Iran Relies on Alternative Methods to Continue its International Banking

Photo Credit:

“We’ll see how it all shakes out. Applied rapidly and with determination, 4-5 years ago, the SWIFT exclusion might well have had the desired effect. The agonizing, drawn-out, incremental nature of the sanctions, however, is basically just amplifying the world’s reasons for realignment (e.g., the clamor for resources, the growing economic strength of the former ‘Third World,’ the buzz over the BRICs—Brazil, Russia, India, China—international Islamism, the Arab ‘Spring’), and affording the time for one shift after another to occur.”