BAKU, Azerbaijan, May 13. Iran can establish banking connections with any country using the "SEPAM" messaging system, without the need for the Society for Worldwide Interbank Financial Telecommunication (SWIFT), said Mohammad Reza Farzin, Governor of the Central Bank of Iran (CBI), Trend reports.
In a statement today to reporters on the sidelines of an event in Tehran marking the second phase of banking relations between Iran and Russia, Farzin explained that the indirect negotiations between Iran and the US over the country’s nuclear program are unrelated to the Central Bank's activities and banking policies.
He further noted that if necessary, Iran can use SWIFT. However, at the moment, there is no necessity or compulsion to do so.
Following the imposition of U.S. sanctions on Iran in November 2018, the SWIFT network severed its connections with Iranian banks, halting the international financial messaging system for Iran.
Three rounds of indirect negotiations between Iran and the US regarding Iran’s nuclear program were held on April 12, 19, and 26. These discussions, conducted indirectly with the mediation of the Foreign Minister of the Sultanate of Oman, Sayyid Badr Al-Busaidi, involved Iranian Foreign Minister Seyed Abbas Araghchi leading the Iranian delegation, while the US delegation was led by the US Special Envoy to Middle East Affairs, Steve Witkoff. The first and 3rd rounds took place in Muscat, Oman, while the 2nd round was held in Rome, Italy.
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