Iran Reconnected to SWIFT. Oil Next

Iran Reconnected to SWIFT. Oil Next
Iran Reconnected to SWIFT. Oil Next

Today, private Iranian bank Iran's Day Bank publicly announced that it has regained the ability to operate freely in the international interbank transaction system SWIFT, from which the country's banks had been disconnected for many years.

It appears that sanctions against the country are being lifted in stages. Oil is next, and permission to trade it will inevitably lead to a drop in price. This is unlikely to please the Russian Federation, whose economy is calculated on $60, while its current value is $2–3 lower.

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