State of law: America transfers to Iraq its money mortgaged in the Federal Bank

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State of law: America transfers to Iraq its money mortgaged in the Federal Bank

Rasoul Radi, a coalition member of State of Law, charged on Sunday that the US was trying to undermine the Iraqi economy.

“By putting the proceeds from Iraqi oil sales in the US Federal Bank, the US administration is working to harm the economic interests of Iraq,” Radi said.

“Iraq receives its money from the Americans through the (distillation) method when necessary,” he continued.

“The US Federal Reserve, which controls the most important revenues that the Iraqi government relies on to finance the budget,” he stated, “is holding hostage the Iraqi economy.”