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Submission + - Iran deleted from the world's banking computers ( 4

dtjohnson writes: Iran is being deleted from the world banking system Society for Worldwide Interbank Financial Telecommunication (SWIFT) computers as of Saturday at 1600 UTC. Once the SWIFT codes for Iranian banks are deleted, Iranian banks will no longer be able to transfer funds to and from other worldwide banks making Iranian international commerce into a barter operation. SWIFT is taking the action at the request of EU members to comply with international sanctions against Iran due to its program to develop nuclear weapons. The effect will be to drastically hinder Iran's ability to execute international business transactions. This is serious folks.
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Iran deleted from the world's banking computers

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  • by Anonymous Coward
    But it's hard to call politics and the way nations are going to respond.

    Some Afghan destroys the world trade centers, and the US (my country)
    goes to war with Iraq cause "they tried to kill my daddy" quoting then President Bush.

    The article mentions China as not being involved. This could be a wind fall for them,
    their own private oil supply.
  • by russotto ( 537200 ) on Thursday March 15, 2012 @11:42PM (#39373747) Journal

    Wow, that could be a problem. I mean, it's not like Iran is a producer of highly liquid, highly fungible commodity in great demand on the world markets which they could use to barter with.

    • by jonwil ( 467024 )

      I am sure there are quite a few countries who aren't as anti-Iran as the US and EU are who will quite happily swap Iranian oil for whatever goods and services Iran needs.

Money is better than poverty, if only for financial reasons.