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Washington's obstacles in the way of trade between Iran and Iraq

Eviralnews, after Iraq's attack on Kuwait in 1990, the United Nations Security Council approved the oil-for-food program so that the Iraqi economy would be completely under the supervision of the five permanent members of this council, namely the United States, England, China, the Soviet Union and be located in France

The end of this program in 2003 led the Americans to abuse it in order to settle the debts and damages caused to the countries affected by the Iraqi Baath regime, such as Kuwait, under their supervision. Accordingly, the Central Bank of Iraq was connected to the US Federal Reserve in order to fully monopolize the Iraqi economy and sell oil to the US government.

Currently, the total domestic and foreign debts of Iraq are 83 billion dollars, part of which is related to the years before 2003. According to the estimates and calculations made by the Iraqi government, in 2028, all the debts related to the years 1990 to 2003 will be settled. In practice, until the foreign debts related to the Iraqi Baath regime are not resolved, the economy of this country will practically remain a hostage of the American government.

Iraq's national economy is shackled by the policies of the US Federal Reserve

After 2003, the currency structure of Iraqi dinar and dollar has come under the full supervision of the US Federal Reserve. In order to import dollars from the United States, the Iraqi government must inform the American side of the cases for which it intends to spend dollars. In practice, the same issue has affected the economic relations between Iraq and Iran in the years after the fall of the Baath regime. As a result of this, the US Treasury Department, while closely monitoring the business interactions between Tehran and Baghdad, has tried to target Iraqi banks for many years under various pretexts.

For example, before the visit of “Mohammed Shia al-Sudani”, the Prime Minister of Iraq to America, the price of the Iraqi dinar fluctuated due to the American pressure on the Iraqi government, so that the value of the American dollar compared to the Iraqi dinar experienced an increase of nearly 100 percent.

The country of Iraq, the Prime Minister of Iraq, the country of America, commercial exchanges, Mohammad Shia al-Sudani,

The result of the American interventionist policies in the Iraqi economy forced the Prime Minister to prohibit the exit of dollars from the country and to increase the controls on the control of the purchase and sale of currency inside Iraq; To such an extent that the implementation of the said policy led to the issuing of prison terms and the imprisonment of some of the owners of the Iraqi free market exchanges.

In the past few days, “Manar al-Obeidi”, an economic expert and the head of the “Future of Iraq” institute, in a conversation with an Iraqi network about the behind-the-scenes internal and external disruptions in the financial arrangements between Iran and Iraq, which are affected by the economic relations between Iraq and the United States. criticized why the Iraqi government does not propose an initiative to solve this issue.

The country of Iraq, the Prime Minister of Iraq, the country of America, commercial exchanges, Mohammad Shia al-Sudani,

While finding the Iraqi government's inability to provide a mechanism to pay Iran's demands in the field of electricity and gas unacceptable, he demanded an end to this long-standing challenge in the relations between Tehran and Baghdad.

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The reduction of the Iraqi government's supervision over currency exchanges brought the intervention of the Americans several times to target 18 Iraqi banks in two stages under the pretext of the withdrawal of currency from Iraq. It is said that during the visit of Iraqi Foreign Minister Fawad Hussein to Washington last winter, the cancellation of sanctions on these banks was negotiated.

Two months after the visit of the Iraqi foreign minister to Washington, this time it was the prime minister's turn to go to America. Following this trip, in which mainly economic, military and security agreements were signed, the value of dinar increased against the US dollar. This clearly shows how much the value of the Iraqi dinar depends on the US dollar.

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Mhd Narayan

Bringing over 8 years of expertise in digital marketing, I serve as a news editor dedicated to delivering compelling and informative content. As a seasoned content creator, my goal is to produce engaging news articles that resonate with diverse audiences.

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