The deputy foreign minister for Legal and International Affairs and a senior member of the Iranian nuclear negotiating team says SWIFT sanctions will remain in force against people who have been blacklisted in connection with weapons and ballistic missiles.

Abbas Araghchi

Abbas Araghchi

He added that sanctions will be lifted for more than 800 people who were blacklisted for financial or economic reasons and they will be able to avail themselves of SWIFT services.

He said all sanctions against Iranian banks in general will also be lifted.

In recent years, the United States and Europe have imposed widespread sanctions on Iran’s financial sector, restricting its ability to engage in international transactions.

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is used for most international interbank messages regarding financial transactions. The Central Bank of the Islamic Republic of Iran, as well as Saderat, Melli, Tejarat and Sepah banks joined SWIFT in 1992. Iran was cut off from SWIFT in 2012 in the heat of the nuclear disputes.
Since the announcement of the agreement between Iran and the 5+1, the head of Iran’s Central Bank has announced that SWIFT activities have resumed in Iran.