US Declines to Lift Sanctions on Iraqi Banks Despite PM’s Request

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The Capitol Dome, Washington, D.C.

Despite ongoing efforts by Iraqi Prime Minister Ali al-Zaidi, the United States has declined to lift sanctions imposed on a number of Iraqi banks.

A source has revealed details of a meeting between Prime Minister Ali al-Zaidi and officials from the US Department of the Treasury. According to the source, al-Zaidi asked US Treasury officials to review and lift the sanctions on Iraqi banks, arguing that the measures prevent the affected institutions from selling US dollars.

The source said US officials informed the Iraqi government that several banks had been sanctioned in recent years over allegations of money smuggling and the use of Iraq’s financial system for illicit financial transfers. As a result, the sanctions on the affected banks cannot currently be lifted.

According to figures released by the Central Bank of Iraq, the country’s banking sector comprises 81 active banks, both state-owned and private, which continue to operate normally and are not subject to US sanctions. A further 32 banks remain under US sanctions.


PUKMEDIA