Fuad Hussein, the minister of foreign affairs for Iraq, urged the US to reevaluate the penalties against US banks that provide low-income people with food financing.
In a phone conversation with US Secretary of State Antony Blinken, Hussein discussed the most recent events in the area, according to a statement released by the Iraqi Foreign Ministry on Wednesday.
The US-led assaults on civilian and military targets in Iraq that targeted Iraqi security forces were discussed by both parties.
Hussein emphasized that the Iraqi government opposes these kinds of assaults and that they must be put an end to in order to keep Iraq out of the business of settling scores between belligerent nations.
The necessity of resuming talks within the framework of the High Military Committee meetings was again emphasized by the Iraqi Foreign Minister.
In order to address the escalating problems in the area, the two sides emphasized the need of strengthening their strategic relationship and maintaining their ongoing coordination in the upcoming term.
Eight local commercial banks were prohibited from conducting transactions in US dollars in Iraq a few days after a senior US Treasury official visited, which decreased fraud, money laundering, and other unlawful uses of US currency.
According to Reuters, the Central Bank of Iraq (CBI), which is the main supplier of hard currency for Iraq and the target of an American effort against money smuggling into Iran, forbids the banks from taking part in its daily US dollar auction.
Iraq has almost $100 billion worth of oil reserves in the United States, so it trusts Washington to keep giving it access to funds and oil revenues.
As part of a crackdown on sending US dollars to Iran and other sanctioned nations, the US banned 14 Iraqi banks from transacting in US dollars in July.
This action demonstrates the continued attempts to restrict Iran’s access to global financial networks.
