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Sanctioned Iran Banks Being Cut Off From Global Network

One of Iran’s most important links to the world financial system will be severed as part of a campaign to pressure the country's leaders to abandon any ambitions to develop nuclear weapons.

The Society for Worldwide Interbank Financial Telecommunication, known as Swift, the dominant messaging service for international financial transactions, said yesterday it will halt service for about 24 Iranian lenders sanctioned by the European Union, including the central bank.