WASHINGTON IMPOSES ITS AUTHORITY ON IRAQI OIL REVENUES, 25 AUGUST

 WASHINGTON IMPOSES ITS AUTHORITY ON IRAQI OIL REVENUES

Economist: Washington imposes its authority on Iraqi oil revenues

Information / Baghdad… Economic affairs researcher Muhammad Al-Saadi explained, the extent to which it is possible to obtain oil revenues from importing countries directly without placing these funds with the US Federal Bank.

Al-Saadi told Al-Maalouma that “China, India and other Asian countries import Iraqi oil in large quantities, but Iraq receives the revenues through the US Federal Bank, which makes Washington an authority over those revenues.”

He added, “The dollar, as an American currency prohibited in some countries, Iraq can benefit from such a procedure by selling oil in exchange for goods, goods and raw materials needed by the Iraqi industry, or introducing companies from those countries and engaging them in the field of construction, construction and project implementation.”

And he indicated that “the continuation of selling oil in exchange for obtaining dollars may not be a good idea, as it is possible to obtain projects, goods and goods instead of oil revenues in dollar currency.”

He pointed out that “Iraq has large reserves of hard currency with the US Federal Bank.”

(So, in reality is Iraq totally out of Chapter VII since the US still holds all oil sales revenues and has to release this money allow Iraq to pay its bills. Will the US let Iraq sell oil anyway they want in the future? The political push is on in Iraq to change the war-torn process resulting from the sanctions. Iraq needs its independence.)