16 Feb

Antiwar literary and philosophical selections

Global Times
February 15, 2012

Iranian sanctions endanger global financial system
By Charles Gray


Nations that do not agree with the US position or sanctions will find this move making it difficult or impossible for their own businesses to effectively deal with Iran.

In effect, if this becomes reality, the economic and foreign policy of nearly every nation on the planet may find itself hijacked by US demands. For many nations, this will appear to be an intolerable infringement upon their sovereignty.

If SWIFT is used against Iran today, there is nothing to prevent it from being used against other nations tomorrow. Certainly, there are those in the US Congress who would not mind striking at Cuba’s or Venezuela’s banking systems via SWIFT.


A bill recently prepared by the US Senate that intends to force the Society for Worldwide Interbank Financial Telecommunication (SWIFT) to expel Iranian banks and…

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