Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
The Israeli Walla! website: We are running out of stockpiles, our forces are exhausted, and the lives of the captives are in danger. It is time for a ceasefire deal in Gaza.
Several wounded in an Israeli bombardment of a tent in al-Mawasi, south of Khan Younis in the Gaza Strip.
Israeli media: Three wounded, three killed in an ongoing operation in the Gaza Strip.
Al Mayadeen's correspondent in southern Lebanon: Israeli artillery shelling targets the outskirts of the town of Shebaa
Al-Qassam Brigades: The targeting took place at the intersection of 'Street 5' with the western line north of Khan Younis
Al-Qassam Brigades: A NIMR armored personnel carrier carrying an Israeli soldier was targeted with an Al-Yassin missile north of Khan Younis
Israeli media: At least two soldiers killed by anti-tank missile fired at Israeli army forces in the Gaza Strip
Local Syrian sources: Mortar shells fell on more than nine villages in the Sweida countryside
Local Syrian sources: Dozens of dead and wounded have arrived at Sweida hospitals as a result of ongoing clashes at several locations in the western Sweida countryside
Local sources: Civilians, including children and women, were injured in the al-Maqous neighborhood of Sweida, in Syria, as a result of ongoing clashes

Iraqi Central Bank team lands in Washington for talks on US sanctions

  • By Al Mayadeen English
  • Source: Agencies
  • 30 Aug 2024 22:18
  • 1 Shares
3 Min Read

The discussions are intended to address the unblocking of dollar transfers and the removal of sanctions on certain banks within Iraq.

Listen
  • x
  • AP photo
    The flags of Iraq and the United States are placed on the table during a meeting with Secretary of Defense Lloyd Austin meets and Iraqi Defense Minister Muhammad Al-Abbasi at the Pentagon, Tuesday, July 23, 2024, in Washington (AP Photo/Alex Brandon)

A delegation from the Central Bank of Iraq has arrived in Washington to negotiate with US officials about lifting sanctions that were previously placed on several Iraqi banks, according to a source from the Arab nation's central financial institution, as reported by Sputnik on Friday.

Earlier this month, the head of the Central Bank, Ali Mohsen Al-Alaq, told Iraqi media that bank representatives would be meeting with the US Federal Reserve and Treasury Department in late August. The discussions are intended to address the unblocking of dollar transfers and the removal of sanctions on certain banks within Iraq.

"A delegation of the Central Bank of Iraq has been staying in the United States since Monday to meet with the US Federal Reserve and Treasury. The delegation will discuss several issues, primarily external dollar transfers from Iraq, support for the Iraqi banking system as well as ... the lifting of US sanctions imposed on some Iraqi banks," the source said.

In July 2023, the US imposed a ban on 14 Iraqi banks from conducting transactions in US dollars. This measure was reportedly taken to prevent the transfer of dollars from Iraq to Iran and other countries that are under US sanctions.

Read more: Iraqi airline fires back at OFAC over lack of evidence for sanctions

At the time, Iraqi Prime Minister Mohammed Shia Al-Sudani strongly criticized the US Treasury's decision to ban dollar transactions for certain Iraqi banks.

Related News

PKK's surrendering of weapons underway in Iraqi Kurdistan

PKK disarmament in Iraq to take months: Turkey's AK party

He argued that the US Treasury had no authority to impose such restrictions, as the affected banks were operating under permits issued by the Iraqi government in accordance with national law.

Al-Sudani said that these sanctions were impacting Iraq's financial stability and were seen as an overreach by the US authorities, infringing on Iraq's sovereignty and ability to manage its own financial affairs.

Targeting Iran?

The situation is partly owed to Iraq's closer relations with Iran, which has caused frustration on the part of the US. Relations between Iraq and Iran have improved significantly in recent years due to several key factors.

First, the two countries share multiple security agreements along their borders to counter terrorist activities and maintain stability in the region. These agreements have led to coordinated efforts to manage border security and combat terrorist organizations.

Second, Iraq has become an important economic partner for Iran. Iraq serves as a crucial market for Iranian goods, electricity, and gas exports. In 2023, it was estimated that Iranian exports to Iraq would exceed $9 billion.

Third, Iran has maintained a strong influence in Iraq's political and security situation, particularly through its alliances with various Resistance groups that played a crucial role in fighting ISIS. 

Read more: Iraq, Iran discuss enhancement of 2023 Security Pact

  • Iraq
  • US Treasury
  • OFAC
  • us sanctions

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS