The Finance Committee of the Iraqi Parliament, with the aim of countering the US sanctions against the country's banking system, has demanded the sale of oil in currencies other than the US dollar.
Publish dateSunday 4 February 2024 - 10:44
Story Code : 285326
Afghan Voice Agency (AVA): In the statement of the Finance Committee of the Iraqi Parliament issued on Wednesday last week, it is stated that the US Treasury continues to use money laundering as an excuse to impose sanctions on Iraqi banks. This process requires a national stance to end these arbitrary decisions. In this statement, it is noted that the imposition of sanctions against Iraqi banks weakens and undermines the central bank's efforts to stabilize the dollar rate and reduce the sales gap between the official and parallel rates.
The financial committee emphasized the rejection of these practices due to their effects on the livelihood of Iraqi citizens and again asked the Iraqi government and the central bank to take quick measures against the dominance of the dollar through the diversification of foreign currency reserves.
Last week, Washington sanctioned Iraq's Al-Hadi Bank on trumped-up charges of money laundering. Several other banks were targeted by similar sanctions last year.
This statement was issued on the same day that a senior US Treasury official said: Washington expects Baghdad to help in identifying and disrupting the financial resources of the resistance factions in Iraq.
The Iraqi government has faced pressure from Washington due to its efforts to diplomatically facilitate the withdrawal of American forces from Iraq and adjust the American presence in Iraq to an advisory role. America exerts significant control over Iraq's financial system. Due to US sanctions, Baghdad has faced difficulties in paying heavy energy debts to Iran. In addition, Iraq's oil revenues are transferred to the Federal Reserve Bank of New York. Baghdad needs US permission to access these financial resources.
According to Isna, the Iraqi government has recently expressed hope to move towards de-dollarization. A government source told the Iraqi state news agency on November 14: Iraq is going to implement several new economic measures to further strengthen the national currency against the US dollar. Last May, the Iraqi government announced a ban on the use of US dollars for personal and commercial transactions.
According to the Oil Price report, Hossein Mowans, an Iraqi representative and a member of the finance committee of the country's parliament, said in an exclusive interview with Kerdel news last year: It is clear that Iraq is economically dominated by America and our government does not really control its money. slow or does not have access to it. We believe that it is very important to get out of the dominance of the dollar, especially since the dollar has become a tool to embargo countries. The time has come for Iraq to rely on its national currency.
The financial committee emphasized the rejection of these practices due to their effects on the livelihood of Iraqi citizens and again asked the Iraqi government and the central bank to take quick measures against the dominance of the dollar through the diversification of foreign currency reserves.
Last week, Washington sanctioned Iraq's Al-Hadi Bank on trumped-up charges of money laundering. Several other banks were targeted by similar sanctions last year.
This statement was issued on the same day that a senior US Treasury official said: Washington expects Baghdad to help in identifying and disrupting the financial resources of the resistance factions in Iraq.
The Iraqi government has faced pressure from Washington due to its efforts to diplomatically facilitate the withdrawal of American forces from Iraq and adjust the American presence in Iraq to an advisory role. America exerts significant control over Iraq's financial system. Due to US sanctions, Baghdad has faced difficulties in paying heavy energy debts to Iran. In addition, Iraq's oil revenues are transferred to the Federal Reserve Bank of New York. Baghdad needs US permission to access these financial resources.
According to Isna, the Iraqi government has recently expressed hope to move towards de-dollarization. A government source told the Iraqi state news agency on November 14: Iraq is going to implement several new economic measures to further strengthen the national currency against the US dollar. Last May, the Iraqi government announced a ban on the use of US dollars for personal and commercial transactions.
According to the Oil Price report, Hossein Mowans, an Iraqi representative and a member of the finance committee of the country's parliament, said in an exclusive interview with Kerdel news last year: It is clear that Iraq is economically dominated by America and our government does not really control its money. slow or does not have access to it. We believe that it is very important to get out of the dominance of the dollar, especially since the dollar has become a tool to embargo countries. The time has come for Iraq to rely on its national currency.
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