Washington threatens further sanctions on Iraq if ‘misuse of dollars’ not addressed
The Cradle
An official from the US Treasury Department has urged Iraq to “address continued risks of the misuse of dollars” by commercial banks to avoid a new round of sanctions targeting the war-torn country’s battered financial sector.
Although nearly a third of Iraq’s 72 banks are now banned from facilitating dollar transactions due to unilateral US measures, a Treasury official who spoke anonymously with Reuters on 14 September said Iraqi banks were still operating with risks “that must be remediated.”
In July, Washington blacklisted 14 commercial banks accused of facilitating US dollar transactions to Iran, a country Washington seeks to strangulate economically.
The unilateral measures led to increased demand for the greenback on ...









