News / Economic Divide

US holding Iraqi dollars

Thursday, 30 March 2023 12:19 AM [ Last Update: Thursday, 30 March 2023 2:41 AM ]

The US invaded Iraq in 2003, under the false pretext of WMDs, a lie sold to the world at the time. Iraqs sovereignty was violated, but to this day, Iraq remains hostage to the US in another way. The revenues it earns from its oil sales are controlled by the US, and the US can, at its whim, turn the dollar faucet on and off on Iraq if Iraq doesn't heed USs demands.

Since 2003, Iraq is required to send all its oil revenues to a single US bank account. Washington is now weaponizing Baghdad's own dollars against Iraq, by devaluing its currency and hindering payments.

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