Iraq calls on Washington to reconsider sanctions on banks

 Baghdad – Mil

Deputy Prime Minister and Secretary of State Fuad Hussein on Friday called for a review of sanctions against Iraqi banks, during a meeting with the US Undersecretary for Terrorism and Money Laundering Affairs.

The State Department said in a statement received by Mill, that “Minister Fuad Hussein met with the US Undersecretary of the Department of the Treasury for Terrorism and Money Laundering, Brian Nelson, in the presence of the two accompanying delegations at the ministry’s headquarters in Washington, D.C., during which they discussed the issues on which the two parties are working in accordance with their previous reform agreements.”

Hussein stressed, according to the statement, “the commitment of the Iraqi government to move forward with its reform and economic measures related to the Iraqi banking system and the energy sector.”

He explained that “the government’s policy seeks to achieve the independence of Iraqi energy through associated gas investment projects, and the development of the mechanism of Iraqi banks in line with international standards to ensure transparency and provide open data, enabling banks to provide the services needed by the Iraqi people, calling on the American side to reconsider the sanctions imposed on about 32 Iraqi banks, as they engaged in the process of structural reform.”

Hussein pointed out that “the stability of the exchange rate of the Iraqi dinar against the US dollar is a fundamental pillar for achieving economic, social and political stability in Iraq, which is what the government seeks to achieve, calling on the concerned US institutions to review and build on it.”

For his part, Nelson praised the steps taken by the Iraqi government to support the Iraqi economy and address the challenges it faces.

Nelson stressed, according to the statement, that “the competent American institutions understand the seriousness of the Iraqi government in modernizing the working mechanisms in the Iraqi institutions, expressing the readiness of the American side to help Iraq in addressing the obstacles to its reforms, which will reflect positively on the Iraqi economy.”

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