The United States and the European Union started applying a trade embargo on Iran in 2010. Later, blockages and restrictions were applied on financial transactions and transfers.

In March 2012, it became impossible to make money transfers to Iran through Swift, an international foreign exchange transfer system, and from Iran to other countries. In other words, Iran was not able to receive the foreign exchange sent to it nor was it able to make any payments.

However, there was an exceptional door left open for such countries as Turkey that buy natural gas and crude oil from Iran.