The Iraqi Parliament calls for confronting US sanctions and selling oil for anything other than the dollar

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The Iraqi Parliament calls for confronting US sanctions and selling oil for anything other than the dollar The Iraqi Parliament calls for confronting US sanctions and selling oil for anything other than the dollar
The sun sets beyond an oil pumping unit, also known as a "nodding donkey" or pumping jack, at a drilling site operated by Tatneft OAO near Almetyevsk, Russia, on Friday, July 31, 2015. Eleven months of surviving with oil below $100 have left Russia hardened enough to endure a monthlong drop to $40 a barrel, a survey of economists showed. Photographer: Andrey Rudakov/Bloomberg

In an effort to counteract US sanctions on Iraqi banks, the Finance Committee of the Iraqi House of Representatives advocated on Wednesday for the sale of Iraqi oil in a currency other than the US dollar.

In a statement obtained by the Parliamentary Finance Committee, it was stated that “imposing sanctions on Iraqi banks would To undermine and obstruct the steps taken by the Central Bank to stabilize the dollar exchange rate and reduce the selling gap between the official and parallel rates.” The US Treasury is still using the pretext of money laundering to impose its sanctions against Iraqi banks, which calls for a national stance that puts an end to these arbitrary decisions.

The committee affirmed its call for the government and Central Bank of Iraq to act quickly to diversify our cash reserves from foreign currencies and declared, “its rejection of these practices, due to their repercussions and consequences on the livelihood of our citizens.”

The committee suggested forcing the Ministry of Oil to accept foreign currency for the sale of Iraqi oil.

In addition to Fly Baghdad Airlines, the United States of America has already placed sanctions on a number of Iraqis connected to armed groups.

Hamad Al-Moussawi, the owner of Al-Huda Bank, was also subject to sanctions.