By Javad Heydarian
As the Belgian-based Society for Worldwide Interbank Financial Telecommunication, or SWIFT, pushes ahead with its plans to expel blacklisted Iranian banks from major state-owned institutions to the Iranian Central Bank, Tehran is on the verge of becoming completely frozen out of the global financial system. Already under a barrage of sanctions, the Iranian economy is reeling from double-digit inflation, marked depreciation in currency, and huge disruptions in foreign trade.
In response, the Iranian regime has moved on two fronts: first, revisiting its nuclear posture by considering substantive dialogue and greater flexibility in terms of transparency and openness to inspection, verification and confidence-building measures; and second, stepping-up its economic engagement with Asian giants to ameliorate its growing isolation. This is precisely where India is central to Iran’s counter-strategy for withstanding international isolation.
Read the full story at The Diplomat