PARIS (Reuters) — The Belgium-based SWIFT financial messaging service will be disconnecting some Iranian banks this weekend, said SWIFT chief executive Gottfried Leibbrandt at an event in Paris on Friday.

Earlier this week, SWIFT had already stated that it would be suspending some unspecified Iranian banks’ access to its messaging system in the interest of the stability and integrity of the global financial system.

In a brief statement issued earlier this week, SWIFT had made no mention of U.S. sanctions coming back into effect on some Iranian financial institutions on Monday, as part of U.S. President Donald Trump’s effort to force Iran to curtail its nuclear, missile and regional activities.

SWIFT’s statement on Nov. 5 said that suspending the Iranian banks access to the messaging system was a “regrettable” step but was “taken in the interest of the stability and integrity of the wider global financial system.”

SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a cooperative society under Belgian law owned by its member financial institutions with offices around the world. It provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment. Business Identifier Codes (BICs, previously Bank Identifier Codes) are popularly known as “SWIFT codes”.