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  Adar 21, 5772 , 15/03/12

Financial Clearing House Cuts Off Iranian Banks

The Swift network, the largest financial clearing house in the world, announced, Thursday, that it would cut off Iranian banks, starting Saturday evening under European Union sanctions against Iran's nuclear development program. As a result, the Iranian government will have to use physical cash to pay for foreign transactions. A senior political source in Jerusalem called the move "a fatal blow to the Iranian regime".

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Other archived news briefs:Mar 15 2012, 10:10 PM, 3/15/2012