Top U.S. Banks Won’t Commit to Ending Iranian Financial Access

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President Trump has successfully pressured Germany into putting the brakes on a $400 million bank cash transfer to Iran. But J.P. Morgan and Citibank won’t commit to following suit. They’re still not sure which side they’re going to choose to do business with — America or Iran. They might, in the end, choose Iran. In that case, the Trump administration has made it abundantly clear: they won’t be immune from sanctions themselves. If you’re going to violate American law, you’re going to pay the price, because at last, we have an American President in the White House.

“Top U.S. Banks Won’t Commit to Ending Iranian Financial Access,” by Adam Kredo, Washington Free Beacon, August 24, 2018:

Two top American financial institutions would not commit to cutting Iranian access to international financial markets, a cornerstone of the Trump administration’s new sanctions on Iran, adding fuel to concerns among U.S. officials about efforts by European countries and Iran’s regional allies to skirt the new American sanctions ahead of a Nov. 4 implementation deadline, the Washington Free Beacon has learned.

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J.P. Morgan and Citibank—top American financial institutions that sit on the board of the SWIFT financial network, which facilitates international banking transactions—declined Free Beacon inquiries into whether they intend to disconnect Iran from the network and comply with the Trump administration’s sanctions.

Both banks could play a pivotal role in ensuring SWIFT and its members obey the new sanctions, which target Iran’s Central Bank and critical infrastructure networks.

However, an ongoing standoff between European allies and the Trump administration over the implementation of the new sanctions threatens to force these U.S. financial institutions to pick a side.

The European Union, which has been plotting for months to help Iran skirt the new U.S. sanctions, approved earlier this week a $21 million financial package for Iran in a bid to keep the hardline regime afloat and the landmark nuclear deal on life support. German officials have called on its allies to build independent banking systems that cannot be hit by U.S. law, a move that has fueled diplomatic tensions and put U.S. banks in a particularly delicate situation.

Congressional efforts to ensure U.S. banks and others disconnect Iran from SWIFT also have been met with muted reaction.

Senior U.S. officials and leaders on the Hill have been pressuring global banks, including those in the United States, to choke Iran’s global financial access, particularly via SWIFT, the leading provider of financial transactions and banking information worldwide.

A delegation of 16 Republican lawmakers on Thursday called on SWIFT to immediately disconnect Iranian access or face the brunt of new U.S. sanctions, which could hit both American and European financial institutions that decline to enforce the measures.

“Quick robust enforcement will be critical for the administration’s maximum pressure strategy to succeed, both immediately to drain the Iranian regime’s resources for malign behavior and as a signal of America’s commitment to maintaining the integrity of our sanctions architecture,” the Republican lawmakers wrote to Treasury Secretary Stephen Mnuchin. “The administration’s maximum pressure campaign will not succeed if the Islamic Republic remains connected to SWIFT.”

U.S. officials who have been working on these efforts for months told the Free Beacon that U.S. banks such as J.P. Morgan and Citi are being reminded they will not be spared from the Trump administration’s sanctions if they do not take steps to cut Iran’s access to SWIFT and other financial networks….

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Halal Bacon
Halal Bacon
5 years ago

Halal banking, what a farce

Suresh
Suresh
5 years ago

Bunch of crooks ,they will do anything for money. Have they paid back the bailout money ? if not takeover and change the management. All the pro-jihadi scumbags are the same

And Finally Vatican Bishop confesses: “Senior Catholic officials are being paid off by George Soros to promote mass Muslim migration into Europe” https://tinyurl.com/y7hllebo

hopespringseternal
hopespringseternal
5 years ago
Reply to  Suresh

Catholic priests and officials, cardinals and popes, are so, so money hungry. They even hid nazi-loot from the Jews during and after WWII.

disqus_xkGq56Mn53
disqus_xkGq56Mn53
5 years ago

Jamie Dimon already stole from US. Many homes, forged assignments. The list goes on.

felix1999
felix1999
5 years ago

Traitors!

762x51FMJ
762x51FMJ
5 years ago

Islam’s one invention is a lambskin condom..
It was perfected when western civilization
removed the intestines from the animal first.

IzlamDownpressesHumanity
IzlamDownpressesHumanity
5 years ago

Mammon and petrodollars, petrofrancs, petrodeutschmarks and petropounds, it’s what the dying atheist West is allah about in the 21st century.

Buck
Buck
5 years ago

Make these banks hurt. No bussiness with the USA of any kind

jerrys
jerrys
5 years ago

The arabs, using the Petro-dollar and control of major hedge funds that have major control of media and banks are dictating pro islamic actions of all employees. Even our childrens books are corrupted with pro islamic themes.

jerrys
jerrys
5 years ago

Iran, under the irrational yoke of ayatollahs and mullahs who desire one thing – a cataclysmic nuclear war that they believe will usher in the Muslim messiah; the twelfth mahdi – are already bringing untold thousands of terrorists to the Golan border between Syrian and Israel in order to fulfill the extermination of the Jewish state, which it calls the Little Satan, and later to destroy with ICBMs the Big Satan, the United States of America.

Iran has already built military bases in Syria and continuously arms its huge terror proxy army in Lebanon and Syria, Hezb’allah, with advanced missiles and weapon systems. This terrorist horde has an army bigger than most European forces can deploy and has over 130,000 missiles aimed at Israel from southern Lebanon; all hidden in private homes, schools, hospitals and UN facilities constituting a crime against humanity and a massive threat to the civilian population of the Jewish state.

Robert Kahlcke
Robert Kahlcke
5 years ago

Those persons that are customers of these entities should close their accounts. SEND A MESSAGE

CharlieSeattle
CharlieSeattle
5 years ago

US Marshall’s should raid the banks, shut them down and arrest the officers.

hopespringseternal
hopespringseternal
5 years ago

Is J.P. Morgan the same as Chase? If so I will move my assets. Absolutely not doing business
with Iran supporters/lovers!!!!!

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