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SWIFT Suspends Iran Banks

A man passes the SWIFT logo at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. (Reuters)
A man passes the SWIFT logo at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. (Reuters)
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SWIFT Suspends Iran Banks

A man passes the SWIFT logo at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. (Reuters)
A man passes the SWIFT logo at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. (Reuters)

As the newly imposed US sanctions took effect against Iran, the SWIFT banking network announced Monday that has suspended several Iranian banks from its services.

"In keeping with our mission of supporting the resilience and integrity of the global financial system as a global and neutral service provider, SWIFT is suspending certain Iranian banks' access to the messaging system," it said.

"This step, while regrettable, has been taken in the interest of the stability and integrity of the wider global financial system."

SWIFT, the Belgian-based Society for Worldwide Interbank Financial Telecommunication, provides banks with a secure messenger network to allow international transfers.

Without its services, Iranian banks will find it more difficult to do business with any client prepared to brave US sanctions to maintain ties with Tehran.

It its brief statement Monday, SWIFT made no mention of US sanctions coming back into effect. This likely reflects the fact that it is caught between two contrary regulatory demands.

The US government has told SWIFT that it is expected to comply with US sanctions and it could face US sanctions if it fails to do so. On the other hand, SWIFT is barred from doing so under the European Union’s so-called blocking statute, which could subject it to European penalties for complying with US law.

Some US sanctions on Iranian banks and oil exports had been suspended after Iran signed a landmark 2105 deal with six world powers to curtail its nuclear ambitions.

But these came back into effect Monday after President Donald Trump pulled out of the accord and demanded that the world again turn up the economic heat on Tehran.

US Secretary of State Mike Pompeo said waivers would be issued to allow eight countries to buy Iranian oil, but that otherwise the measures would be "relentless."

SWIFT connects 11,000 banks and financial institutions in 200 countries and territories, while prising itself on taking a neutral political stance.

It does not hold or manage client funds, but allows the banks to transfer funds by sending messages across the network.

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World

Pope Leo Summons World's Cardinals for Key Assembly to Help him Govern the Church

A handout picture provided by the Vatican Media shows Pope Leo XIV presiding over the Jubilee Audience in St. Peter's Square, Vatican City, 20 December 2025. EPA/VATICAN MEDIA HANDOUT
A handout picture provided by the Vatican Media shows Pope Leo XIV presiding over the Jubilee Audience in St. Peter's Square, Vatican City, 20 December 2025. EPA/VATICAN MEDIA HANDOUT
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Pope Leo Summons World's Cardinals for Key Assembly to Help him Govern the Church

A handout picture provided by the Vatican Media shows Pope Leo XIV presiding over the Jubilee Audience in St. Peter's Square, Vatican City, 20 December 2025. EPA/VATICAN MEDIA HANDOUT
A handout picture provided by the Vatican Media shows Pope Leo XIV presiding over the Jubilee Audience in St. Peter's Square, Vatican City, 20 December 2025. EPA/VATICAN MEDIA HANDOUT

Pope Leo XIV has summoned the world’s cardinals for two days of meetings to help him govern the church, the Vatican said Saturday, in the clearest sign yet that the new year will signal the unofficial start of his pontificate.

The consistory, as such gatherings are called, will be held Jan. 7-8, immediately following the Jan. 6 conclusion of the 2025 Holy Year, a once-every-quarter century celebration of Christianity.

Leo’s first few months as pope have been dominated by fulfilling the weekly Holy Year obligations of meeting with pilgrimage groups and celebrating special Jubilee audiences and Masses. Additionally, much of his time has been spent wrapping up the outstanding matters of Pope Francis' pontificate.

As a result, the January consistory in many ways will mark the first time that Leo can look ahead to his own agenda following his May 8 election as the first American pope. It is significant that he has summoned all the world’s cardinals to Rome, The Associated Press reported.

Francis had largely eschewed the consistory tradition as a means of governance. He had instead relied on a small group of eight or nine hand-picked cardinal advisers to help him govern and make key decisions.

The Vatican said Saturday that Leo’s first consistory “will be oriented toward fostering common discernment and offering support and advice to the Holy Father in the exercise of his high and grave responsibility in the government of the universal Church.”

Other types of consistories include the formal installation of new cardinals. But no new cardinals will be made at this meeting, which is purely consultative.

World

Iran, UK Foreign Ministers in Rare Direct Contact

Iranian Foreign Minister Abbas Araghchi gestures during a joint news conference with Russian Foreign Minister Sergei Lavrov at Zinaida Morozova's Mansion in Moscow, Wednesday, Dec. 17, 2025. (Ramil Sitdikov/Pool Photo via AP)
Iranian Foreign Minister Abbas Araghchi gestures during a joint news conference with Russian Foreign Minister Sergei Lavrov at Zinaida Morozova's Mansion in Moscow, Wednesday, Dec. 17, 2025. (Ramil Sitdikov/Pool Photo via AP)
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Iran, UK Foreign Ministers in Rare Direct Contact

Iranian Foreign Minister Abbas Araghchi gestures during a joint news conference with Russian Foreign Minister Sergei Lavrov at Zinaida Morozova's Mansion in Moscow, Wednesday, Dec. 17, 2025. (Ramil Sitdikov/Pool Photo via AP)
Iranian Foreign Minister Abbas Araghchi gestures during a joint news conference with Russian Foreign Minister Sergei Lavrov at Zinaida Morozova's Mansion in Moscow, Wednesday, Dec. 17, 2025. (Ramil Sitdikov/Pool Photo via AP)

Iran's Foreign Minister Abbas Araghchi has spoken by phone with his British counterpart Yvette Cooper, an Iranian foreign ministry statement said on Saturday, in a rare case of direct contact between the two countries.

The ministry said that in Friday's call the ministers "stressed the need to continue consultations at various levels to strengthen mutual understanding and pursue issues of mutual interest."

According to AFP, a UK government source said Cooper "emphasized the need for a diplomatic solution on Iran's nuclear program and raised a number of other issues."

The source in London said Cooper raised the case of Lindsay and Craig Foreman, a British couple detained in Iran for nearly a year on suspicion of espionage.

The Iranian ministry statement did not mention the case of the two Britons.

It said Araghchi criticized "the irresponsible approach of the three European countries towards the Iranian nuclear issue", referring to Britain, France and Germany.

The three countries at the end of September initiated the reinstatement of UN sanctions against Iran because of its nuclear program.

The Foremans, both in their early fifties, were seized in January as they passed through Kerman, in central Iran, while on a round-the-world motorbike trip.

Iran accuses the couple of entering the country pretending to be tourists so as to gather information for foreign intelligence services, an allegation the couple's family rejects.

Before Friday's call, the last exchange between the two ministers was in October.

World

Netanyahu Plans to Brief Trump on Possible New Iran Strikes, NBC News Reports

Israeli Prime Minister Benjamin Netanyahu speaks at the plenum of the Knesset, Israel's parliament, in Jerusalem, November 10, 2025. REUTERS/Ronen Zvulun/File Photo
Israeli Prime Minister Benjamin Netanyahu speaks at the plenum of the Knesset, Israel's parliament, in Jerusalem, November 10, 2025. REUTERS/Ronen Zvulun/File Photo
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Netanyahu Plans to Brief Trump on Possible New Iran Strikes, NBC News Reports

Israeli Prime Minister Benjamin Netanyahu speaks at the plenum of the Knesset, Israel's parliament, in Jerusalem, November 10, 2025. REUTERS/Ronen Zvulun/File Photo
Israeli Prime Minister Benjamin Netanyahu speaks at the plenum of the Knesset, Israel's parliament, in Jerusalem, November 10, 2025. REUTERS/Ronen Zvulun/File Photo

US President Donald Trump is ​set to be briefed by Israel's Prime Minister Benjamin Netanyahu that any expansion ‌of ‌Iran's ‌ballistic ⁠missile ​program ‌poses a threat that could necessitate swift action, NBC News reported on Saturday.

Israeli ⁠officials are ‌concerned that Iran ‍is ‍reconstituting nuclear enrichment ‍sites the US bombed in June, and ​are preparing to brief Trump for options ⁠on attacking the missile program again, the NBC report added.

Reuters could not verify the report.

New satellite imagery shows recent activity at the Natanz nuclear facility that was damaged during June's 12-day war with Israel, according to the US-based Institute for Science and International Security (ISIS).

During the June conflict, the IAEA confirmed Israeli strikes hit Iran's Natanz underground enrichment plant.

The think tank said the satellite imagery from December 13 show panels placed on top of the remaining anti-drone structure at the Pilot Fuel Enrichment Plant (PFEP), providing cover for the damaged facility.

It suggested the new covering allows Iran to examine or retrieve materials from the rubble while limiting external observation.

The Natanz uranium enrichment facility, located some 250 km south of the Iranian capital Tehran, is one of Iran's most important and most controversial nuclear facilities in the Middle East.