EghtesadOnline: The Trump administration abandoned the Iran nuclear deal this year and is reimposing sanctions. The sanctions leave western companies and banks with a stark choice. If they do business with Iran, they lose access to the American market and financial system. Not surprisingly, businesses and banks have been cutting ties with Iran or shelving plans to invest there. But one important financial link to the country remains: the financial messaging service that plays a crucial role in moving money around the international banking system.
EghtesadOnline: Sanctions imposed on Iran by the United States offer an opportunity for Europe to develop its own independent financial institutions, France’s Finance Minister Bruno Le Maire said.
EghtesadOnline: U.S. President Donald Trump should stop interfering in the Middle East if he wants the price of oil to stop rising, Iranian Oil Minister Bijan Zanganeh was quoted as saying on Wednesday.
EghtesadOnline: A group of US lawmakers have urged the US Treasury Department to cut off Iran from the Society for Worldwide Interbank Financial Telecommunication (SWIFT).
EghtesadOnline: Crude oil prices rose more than 1% on Friday as US sanctions against Iran looked set to tighten supply, but futures contracts posted a weekly decline since investors worried that global trade disputes could slow economic growth and hurt energy demand.
EghtesadOnline: Oil prices rose on Tuesday with the reimposition of US sanctions against major crude exporter Iran expected to tighten global supply. Spot Brent crude oil futures were $74.17 per barrel, up 42 cents, or 0.6%, from their last close, CNBC reported.
EghtesadOnline: World shares climbed for a third day running on Tuesday, as China promised fiscal action to support the world’s second-largest economy and stellar results from internet giant Alphabet underpinned the tech stocks.
EghtesadOnline: The U.S.-driven trade war has become the biggest “confidence killer” for the global economy, China’s foreign ministry warned on Wednesday, saying the whole world would fight back if the United States continued to be “wilful”.
EghtesadOnline: World stocks hit a one-month high on Wednesday as a bullish outlook from the head of the U.S. central bank and rising company earnings buoyed the mood, lifted the dollar and sent safe-haven gold to a one-year trough.
EghtesadOnline: EU antitrust regulators hit Google with a record 4.34 billion euro ($5 billion) fine on Wednesday for using its Android mobile operating system to squeeze out rivals.