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Iraq moves to break restrictions on the dollar in crucial talks with Washington
July 13, 2024 Last updated: July 13, 2024
Al-Independent / Follow-up / - Iraq has begun a round of talks in Washington with representatives of the US Treasury Department to address issues related to restrictions imposed on the dollar, as announced by Iraqi Foreign Minister Fuad Hussein during a press conference broadcast by the Iraqi government media channel.
Hussein described the meetings as “very useful,” indicating that they would continue.
Topics scheduled for future discussions include further talks on the list of Iraqi banks subject to US sanctions, and the status of Iran’s money accumulated in Iraq. Hussein said:
“There are serious steps to resolve these issues.”
Iraq witnessed a shortage in the availability of dollars last year, after the Federal Reserve Bank of New York began closely examining transfers to Iraqi banks.
Iranian companies and individuals have long used banks in neighboring Iraq to access dollars and circumvent US sanctions.
The Central Bank of Iraq pledged to restrict all internal commercial transactions starting this year, in an attempt to limit dollar transactions outside the Iraqi banking sector, and limit its smuggling abroad. Hussein indicated that the
talks with the US Treasury Department aim to ease these restrictions and ensure the dollar flows more smoothly into the Iraqi economy.
It is expected that these talks will contribute to developing sustainable solutions to the financial issues facing Iraq, and relieving pressure on the national economy. In conclusion, Hussein stressed that
there are serious steps to resolve these issues, and that the
talks will continue to ensure tangible results in the near future.
https://mustaqila.com/العراق-يتحرك-لكسر-القيود-على-الدولار-ف/
July 13, 2024 Last updated: July 13, 2024
Al-Independent / Follow-up / - Iraq has begun a round of talks in Washington with representatives of the US Treasury Department to address issues related to restrictions imposed on the dollar, as announced by Iraqi Foreign Minister Fuad Hussein during a press conference broadcast by the Iraqi government media channel.
Hussein described the meetings as “very useful,” indicating that they would continue.
Topics scheduled for future discussions include further talks on the list of Iraqi banks subject to US sanctions, and the status of Iran’s money accumulated in Iraq. Hussein said:
“There are serious steps to resolve these issues.”
Iraq witnessed a shortage in the availability of dollars last year, after the Federal Reserve Bank of New York began closely examining transfers to Iraqi banks.
Iranian companies and individuals have long used banks in neighboring Iraq to access dollars and circumvent US sanctions.
The Central Bank of Iraq pledged to restrict all internal commercial transactions starting this year, in an attempt to limit dollar transactions outside the Iraqi banking sector, and limit its smuggling abroad. Hussein indicated that the
talks with the US Treasury Department aim to ease these restrictions and ensure the dollar flows more smoothly into the Iraqi economy.
It is expected that these talks will contribute to developing sustainable solutions to the financial issues facing Iraq, and relieving pressure on the national economy. In conclusion, Hussein stressed that
there are serious steps to resolve these issues, and that the
talks will continue to ensure tangible results in the near future.
https://mustaqila.com/العراق-يتحرك-لكسر-القيود-على-الدولار-ف/
