Iraq calls on US Treasury to reconsider sanctions on civil banks

Economy| 10:19 – 07/02/2024

Mawazine News – Baghdad
The Iraqi Foreign Ministry called on the US Treasury to reconsider the decision to impose sanctions on some civil banks.
The Ministry of Foreign Affairs said in a statement received by Mawazine News that “the Deputy Prime Minister and the Minister of Foreign Affairs received a phone call yesterday evening, from US Secretary of State Anthony Blinken, as part of the follow-up of the most prominent developments and regional and international issues of common interest.”
The statement added, “The Secretary of State touched on the sanctions imposed by the US Treasury on seven Iraqi banks recently preceded by sanctions on fourteen Iraqi banks, as the reasons behind the imposition of such sanctions have not been stated, and whether Washington’s imposition of these sanctions came due to the undiscipline of these banks in implementing banking instructions and compliance rules, or for other political reasons, especially as the US Treasury Department is in constant contact with the Central Bank of Iraq.”
He pointed out that “these banks have an important and significant role in financing the expenses of the ration card and providing the food basket for Iraqi families with limited income,” he officially called for “a review of the US Treasury decision on the subject.”
He pointed out that “Iraq is keen to build partnership and cooperation relations with friendly countries and joint work towards facing economic and security challenges and in a way that supports consolidating stability in the region.”

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