From the Liveblog of
Thursday, August 23, 2018
US lawmakers urge Iran expulsion from SWIFT banking network
Republican lawmakers are calling for Iran to be expelled from the main financial system that oversees international bank transfers, as the Trump administration steadily re-imposes sanctions on the country following the US withdrawal from the Iran nuclear deal.
A group of 16 GOP senators, led by Ted Cruz of Texas, urge Treasury Secretary Stephen Mnuchin on Thursday to take “all necessary steps” to disconnect Iran from the SWIFT network. They say the renewed US sanctions won’t be effective unless that step is taken.
US President Donald Trump withdrew from the 2015 nuclear accord in May and re-imposed some sanctions on Iran earlier this month, over the objections of Iran and the other parties to the deal, including Britain, France, and Germany. A second batch of sanctions will be re-imposed in November.
— AP
The Times of Israel Community.