Rady: America controls oil revenues and delivers them to Iraq by “distillation”

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Rady: America controls oil revenues and delivers them to Iraq by “distillation”

Former MP Rasul Radi, a State of Law coalition member, stated today that the American administration has control over the Iraqi funds associated with oil revenues. These funds are delivered to Iraq through the Federal Bank, but the process needs to be revised. Radi pointed out that Iraq is accustomed to Washington’s decisions, and therefore, nothing seems unexpected.

Radi stated that the Iraqi economy is dependent on the US Federal Bank, which controls the country’s primary source of revenue, oil.

“He said, “It wouldn’t be surprising if the American administration makes an economic decision that harms Iraq’s interests. This is especially concerning as the revenue from oil sales is placed in the bank mentioned earlier, and Iraq receives it through distillation when needed.”

He said that America controls Iraqi funds held by the Federal Bank, causing a rise in the dollar exchange rate and financial harassment.