An economist warns of the US Treasury’s policy with Iraq

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An economist warns of the US Treasury’s policy with Iraq

On this Wednesday, Nabil Jabbar Al-Ali, an expert in economics, issued a warning on the US Treasury Department’s strategy and the actions it took against private banks in Iraq.

“Removing Iraqi private banks’ ability to transact in dollars will impact trade as it relates to import and export by reducing the amount of foreign exchange that the Central Bank grants,” Al-Ali stated.

“Any sanctions from the US Treasury on private banks in Iraq will affect the exchange rate between the dollar and the dinar,” he continued.

“Continuous American controls and pressure on private private banks inside Iraq,” was the argument made by Al-Ali.

The Central Bank issued a new list of banks at the beginning of this month that would not be allowed to deal in dollars. Eight institutions that were not on the list before were placed in the list.

Meanwhile, representatives of the Iraqi Private Banks Association and the banks listed on the US sanctions list are scheduled to meet with the Economy, Industry, and Trade Committee.